ZCZC
BCN-03
GERMANY-ECONOMY-INDICATOR-INVESTMENTS
German investor confidence steadies in October
FRANKFURT AM MAIN, Oct 15, 2019 (BSS/AFP) – Confidence among investors in Germany stabilised in October after recovering from a late summer plunge last month, a survey released Tuesday showed, but financial players continue to fear trade conflicts.
The Mannheim-based ZEW institute’s monthly barometer of expectations for the coming months inched down 0.3 points compared with September, to -22.8.
“Financial experts continue to assume a worsening economic situation in Germany,” ZEW chief Achim Wambach said in a statement.
“The latest deal reached in the US-China trade conflict does not seem to be reducing scepticism about growth,” he added.
US President Donald Trump in recent days touted a trade breakthrough with Beijing, although details remain unclear.
Germany’s economy has suffered direct and indirect blows from US-led trade conflicts since Trump took office, with particular exposure from its close links to the Chinese economy.
China was Germany’s biggest trade partner between January and July, with 117 billion euros ($130 billion) of exchanges, official data released Monday showed.
Indicators point to a sharp weakening in German industry, while most observers expect GDP figures released Thursday to show a second successive quarter of economic shrinkage between July and September — placing the country in technical recession.
Tuesday’s ZEW survey showed investors’ views of the present business situation fell back 5.4 points, to -25.3 points.
Looking to Germany’s 19-nation eurozone neighbourhood, investors’ judgement of the outlook shed 1.1 points to -23.5, while the present situation barometer tumbled 10.8 points, to -26.4.
BSS/AFP/MMA/1628HRS