German and Eurozone ZEW Economic Sentiment
Written March 16, 2010 at 6:09 AM EST by John Teister
The EUR traded higher across the board, and made a new high session high against the USD after the release of a better than expected ZEW economic sentiment out of Germany. Additionally, the ZEW economic sentiment number for the eurozone was lower at 37.9. The details are as follows:
- German ZEW Economic Sentiment – Survey: 43.5 Actual: 44.5 Prior: 45.1
- Eurozone ZEW Economic Sentiment – Survey: 40.1 Actual: 37.9 Prior: 40.2
Wolfgang Franz, the ZEW President has made the following comments:
- Export oriented industries will drive economic growth.
- German business activity has moved from intensive care to rehad.
- German economy is still far from a full recovery.
- The market has priced in all Greek problems.
- There might be some expectation of a bailout for Greece, but cannot say for sure.
- Inflation expectations are going down; point to a more moderate growth path.
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