Tuesday, March 26, 2019 | ePaper

Signs of gloom lifting for German investors

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AFP, Frankfurt :
Confidence among German investors recovered slightly from recent months' lows in December, a regular survey found Tuesday, but remained gloomy overall.
Measuring expectations for the coming months, the ZEW institute's monthly barometer based on a poll of 201 analysts and financial players added 6.6 points to reach -17.5.
"The increase in economic expectations in December is welcome, but shouldn't be over-interpreted," warned ZEW chief Achim Wambach in a statement.
"Uncertainties negatively influencing private investment and German exports remain, like the growing international trade conflict and Brexit."
Looking to other elements of the survey, investors' judgement of the current economic situation in Germany worsened by 12.9 points, to 45.3.
"This points to relatively weak economic growth in the fourth quarter" following a contraction of 0.2 percent between July and September, Wambach said. Financial players' view of the present situation in the 19-nation eurozone also darkened, but their outlook for the bloc was slightly brighter.
There has been some relief for the single currency area in recent days, as Italy promised to rework a draft budget that was rejected by Brussels.
And US President Donald Trump agreed with China's Xi Jinping on 90 days of talks to defuse the trade showdown whose knock-on effects have also harmed the eurozone.
But Britain's departure from the EU on friendly terms remains in doubt, after Prime Minister Theresa May shrank back from a vote on her proposed Brexit deal as it became clear lawmakers would not back it.
In 2017, the UK was Germany's fourth-biggest export customer and 11th-biggest import supplier, according to figures from Germany's central bank.

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