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German ZEW economic sentiment (August): down again, but not as sharply as in July
Mon, Aug 18 2008, 08:45 GMT
by BHF-Bank Economics Department
- RBS PMI manufacturing indices Germany and EMU (August): down, but less steeply than in July
Germany: ZEW economic sentiment usually follows ifo business expectations
In August, the German ZEW economic sentiment will probably have dropped for the fifth consecutive time, but not as sharply as in the last two months.
Both the US ISM manufacturing index and the ifo business expectations have deteriorated. The German yield spread has also done so recently, as long-term interest rates have gone down, while short-term rates have remained stable. However, the euro has depreciated, the crude oil price has fallen and the DAX performance index has recovered somewhat.
In view of the above, the RBS purchasing managers’ index for the German and the EMU manufacturing sector, and Belgian business confidence are all likely to have deteriorated in August, but to a lesser extent than in July.
EMU industrial new orders are expected to have continued decreasing in June, but probably not as sharply as in May. However, the corresponding German figure picked up somewhat in June. Following their usual seasonal pattern, the EMU trade balance and current account are likely to have recovered in June from their setbacks the previous month, in the same way as the corresponding German figures.
Published on Mon, Aug 18 2008, 08:51 GMT
Archive
- RBS PMI manufacturing indices Germany and EMU (November): down
Published On Mon, Nov 17 2008, 05:48 GMT - EMU industrial production (September): down
Published On Mon, Nov 10 2008, 06:25 GMT - ECB refi rate: 50bp reduction almost sure
Published On Mon, Nov 3 2008, 09:06 GMT - German ifo business climate (October): down
Published On Mon, Oct 27 2008, 09:40 GMT - RBS PMI manufacturing indices Germany and EMU (October): down
Published On Mon, Oct 20 2008, 07:54 GMT
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