Germany economy to deteriorate in next six months – analysts

13 November 2012 17:04  [Source: ICIS news]

LONDON (ICIS)--Financial market analysts expect Germany’s economy to deteriorate over the coming six months, rather than to improve, an economics research group said on Tuesday.

Mannheim-based ZEW institute said that its November survey showed that analysts expect that recessionary trends in the eurozone will continue to hurt Germany’s export performance and lead to a lack of confidence in Europe's largest economy. 

November’s negative assessment was likely due to weak industrial orders, indicating a further drop in production, as well as disappointing data from other leading indicators, ZEW added.

ZEW’s monthly economic expectations indicator for Germany fell to minus 15.7 points in November, down by 4.2 points from October. The indicator is based on a survey of 263 analysts.

"Since mid-2012 the economic expectations of the financial market experts move more or less sideways while remaining in negative territory,” said ZEW president Wolfgang Franz.

“Prevailing recessionary developments in the eurozone impact the German economy via foreign trade and a lack of confidence. This is likely to be a burden for economic growth in Germany during the next six months," Franz said.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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