German ZEW economic sentiment index rises to 34.2 in August, beating forecasts
Macro
The economic sentiment index for Germany released by the ZEW European Economic Research Centre rose to 34.2 in August, up from 26.3 the previous month and above the 30.0 consensus forecast compiled by Reuters. ZEW President Achim Wambach noted that the upward trend in the expectations index became more firmly established in August, supported by strong quarterly earnings and currently robust exports. He also said federal government infrastructure investment is providing additional support. At the same time, he warned that the drop in Rhine water levels to record lows poses an immediate risk to economic activity.
