Berlin (Reuters) – Fewer and fewer market professionals believe the German economy because of the Greece-drama to an accelerated growth in the second half.
The Barometer for economic expectations declined in June for the third month in a row, such as the Centre for European Economic Research (ZEW) announced on Tuesday to its survey of 229 investors and analysts. It slipped to 10.5 from 31.5 points and thus to the worst level since November 2014. Economists had only expected to decline to 37.1 meters. Nevertheless, the barometer remained above its historical average of around 25 points.
” Factors influencing currently reduce the scope for improvement of the good economic situation in Germany, “said ZEW President Clemens Fuest. “These include in particular the continuing uncertainty over the future of Greece and the subdued dynamics of the global economy.” Therefore, the market players also assessed the current situation slightly less favorable.
Economists yet no reason for too much pessimism. They lead the clouded mood of market players, especially on the fluctuating stock and bond markets in the face of an imminent Greek default back less on bad news from the real economy. “The general conditions – weak euro, lower oil prices – remain intact and are likely as the year progressed make an impact,” said BayernLB expert Stefan Kipar. The industry had recently received more orders and ramped up exports and production.
the first quarter was the German economy grew unexpectedly weak 0.3 percent. For the full year 2015, most experts say an increase of nearly two percent ahead. 2014 had reached only about 1.6 percent.
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