Positive news for German economy
TEXT OF STORY
Steve Chiotakis: New numbers this morning out of Germany show investor confidence
moved into positive territory for the first time in almost two years. So does that mean the worst is over in Deutschland? Christopher Werth reports.
Christopher Werth: The survey comes from the Center for European Economic Research. It shows the first positive reading for economic sentiment since July of 2007.
The center says the improvement comes from current stimulus efforts, and the fact that low inflation is helping consumer spending. A brighter outlook among U.S. and Chinese investors is also lifting spirits.
But Stefan Schneider of Deutsche Bank warns not to read too much into these numbers.
Stefan Schneider: For the ordinary, lets say, German version of a Joe Six Pack, a kind of survey done by a strange institute probably won’t impress him.
After all, it is election season in Germany, and Chancellor Angela Merkel would like to show some evidence of a turnaround.
Speaking yesterday, she said the crisis in Germany might finally be hitting bottom. The country’s neighbors wait with bated breath for any signs of recovery in the region’s largest economy, as that should mean better days to come for the rest of Europe.
In London, I’m Christopher Werth for Marketplace.
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