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Strong data boosted current conditions in ZEW survey- economist
April 15, 2014 / 9:31 AM / 3 years ago

Strong data boosted current conditions in ZEW survey- economist

MANNHEIM, Germany, April 15 (Reuters) - Strong economic data and broad consensus that Germany put in a robust performance during the first quarter drove investors’ assessments of current conditions to their highest level in more than 2-1/2 years in April, a ZEW economist said on Tuesday.

“We think that major factors for the high assesment for Germany are the good data that were recently released like industrial production as well as incoming orders,” Frieder Mokinski said.

“There also seems to be a wide consensus that the first quarter of this year was a particularly strong one.”

The ZEW’s monthly poll of investor and analyst sentiment in Europe’s largest economy fell for a fourth consecutive month in April as the crisis in Ukraine weighed on the outlook but current conditions rose to their highest level since July 2011.

Mokinski said survey participants did not have any particular fear that the euro would strengthen further.

“If you consider the expectations for the exchange rates you find that most respondents think that the dollar will appreciate against the euro.”

Reporting by Eva Taylor and Kirsti Knolle in Mannheim, Writing by Michelle Martin in Berlin

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