Stat of the Day: German Investor Sentiment Soars
Though expectations for exports are slightly weaker in 2011, the private sector is expected to grow nicely. In reality, a jump in investor sentiment shouldn't be that surprising with the DAX jumping all the way back to 2008 highs. The market is booming yet analysts estimates still appear constrained and out of tune with the facts.
Whats amazing is that the US markets such as the SP500 remain nearly 300 points below its all time high back in October 2007. Will the US eventually catch up?
- The Mannheim-based ZEW think tank said on Tuesday its monthly index jumped to 15.4 points from 4.3 in December. KEY DATA GERMANY JAN DEC economic sentiment 15.4 4.3 current conditions 82.8 82.6 Economists had expected the economic sentiment reading to rise to 6.8 points, according to the median in a poll of 36 economists.
- CARSTEN BRESZKI, ING: "The confidence of the investors remains in tact despite the debt crisis and severe winter weather. It looks almost like blind faith in the strength of the German upturn. The German economy is indeed in a strong position. The growth in 2011 should be broadly based thanks to the broad range of exports, the labour market and the improving situation with private consumption."