German ZEW Shows Business Confidence Rising

Business confidence in Germany rose in December to hit a four-month high in spite of the economic challenges of the European migrant crisis and slowdown in emerging economies, latest figures from the country’s ZEW institute show.

A reading for December from the ZEW shows current conditions at 55.0 against a score of 54.4 in November. Meanwhile, the economic expectations index hit 16.1 for this month against analyst expectations of 15.0 and 10.4 the previous month.

The institute added that while the influx of refugees posed challenges for German society and the economic slowdown in emerging markets was putting pressure on the exports, the country’s economy was “sufficiently robust” to cope with the challenges of 2016, Reuters reported.

Carsten Brzeski, chief economist at ING-DiBa, said the figures showed how German businesses have quickly got over the disappointment of the recent European Central Bank meeting, which came up short on further quantitative easing measures.

via CNBC

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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