Germany Recovery Continues Despite ZEW Drop
October 17th, 2006 by Stephen RomanThe ZEW survey of economic sentiment dropped to a 13 year low today in anticipation of higher taxes in Germany.
Despite that, the German economy remains strong:
The German economy is growing at its fastest rate since 2000 and companies have begun to re-hire after five years of downsizing.
The German government will on Friday add just less than a percentage point to its gross domestic product growth estimate for this year, underlining the robustness of the recovery under way in Europe’s largest economy.
The DAX has no direct correllation with the ZEW survey but attention should be paid to such a rapid decline to new lows.
Posted: October 17th, 2006 under General.
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