GERMANY - Institutional investors remain upbeat about the state of the Germany economy, according to a German research centre.
The ZEW Financial Market Survey shows indicators of economic sentiment rose +35.9 points at the start of the year, an increase of 10.1 on December. The result backs the positive outlook for the German economy that the indicator has been signalling for several months, with other leading indicators now following the trend.
The scale operates from -100 to +100. In January 2000 confidence was at a high of +90. From January 2001 to July 2001 confidence was in negative territory.
In January 318 analysts and institutional investors participated in the ZEW Financial Markets Survey which is conducted monthly by the Mannheim-based Centre for European Economic Research (ZEW).
Participants were asked about their medium-term expectations concerning economic activity and capital markets. The ZEW Indicator of Economic Sentiment is the balance between positive and negative expectations for future economic development in Germany over six months.
In addition, around 60% of respondents expect further rate cuts by the European Central Bank within the first half of 2002, compared to 55% who anticipated no change in the US Federal Funds Rate in the next months.
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