ZEW Analyst Says Improved US Outlook Drove German Confidence

An improved outlook for the U.S. economy drove a sharp increase in German analyst and investor sentiment in December, economists at Germany’s ZEW economic institute said on Tuesday, adding that the recession in the euro zone was through the worst.

“The better situation in the United States, and the better outlook for the United States, it’s these international connections (that helped improve the sentiment),” ZEW economist Michael Schroeder told reporters.

Fellow ZEW economist Marcus Kappler said it was “fair to say that the recession is bottoming out … in the euro zone” and that there could be room for more economic growth in Germany than the 1.5 percent some are forecasting for next year.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza