Germany August ZEW current situation 86.7 vs 85.2 exp

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Germany August ZEW survey results now out 22 Aug

  • 86.4 prev
  • expectations 10.00  vs 15.0 exp vs 17.5 prev
  • EZ expectations 29.3 vs 35.6 prev

Better current tempered by dampened expectations

EURUSD lower at 1.1768 but EURGBP steady at 0.9160  as GBPUSD caps again while  EURJPY stays near session lows at 128.64 with offers in core pairs capping. 

This survey summarizes the net percentage of positive and negative responses regarding the expectations for economic growth in the next 6 months, as given by financial analysts from banks, insurance companies and large industrial enterprises. For example, if 50% believe that the economic situation will improve and 20% believe it will get worse, the result will be +30.
The survey deals with the markets of Germany, the USA, Japan, Great Britain, France, Italy and other EU countries.

Says the ZEW:

  • significant decrease of economic sentiment indicator reflects high degree of nervousness over the future path of German growth
  • weaker than expected exports and widening emissions scandal have helped contribute to this lack of confidence
  • outlook for Germany still remains relatively stable at fairly high levels

Yesterday the BUBA seemed more upbeat.

                                              German ZEW current situation mm

Source