Well something is definitely afoot in Germany, the ZEW index is up - even if only slightly - for the second consecutive month.The ZEW Center for European Economic Research said its index of investor and analyst expectations rose to minus 32 from minus 39.5 in February. The gauge reached a 15-year low of minus 41.6 in January.
Following on from the relatively good export results in January, and the fair showing on the manufacturing and services PMIs it seems the German economy has been enjoying a sort of mini "Indian summer" in January and February, on the back of strong exports, not to Asia but rather to Eastern Europe and it will be interesting to watch how the German economy reacts gowing forward to the strains which are being produced in inflation and other overheating issues which seem to be arising in one of these countries after another.
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