The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
German business confidence heads south to 5-year minimum in February
In February, German business confidence reached hit its weakest value for almost five years without any signs of a turnaround yet in sight, as follows from a closely-watched business poll published on Friday.
As the Munich-based Ifo economic institute informed, its business climate index, built around a monthly poll of businesses, went down to 98.5 in February, which appears to be its lowest result since November 2014.
The given outcome turned out to be inferior to experts’ estimates for 99.0.
The index’ forward-looking component, gauging business's hopes, went down even more steeply to its lowest value since 2012, at the depths of the euro's existential downtime.
The motor of the European Union, Germany's export-driven economy, has speeded down steeply under the influence of the trade conflict between China and America, uncertainty over Britain’s escape from the EU as well as a threat of higher levies on German-made cars from American leader.
Earlier on Friday, Germany’s Federal Statistics Office, Destatis, officially confirmed that in the fourth quarter the country’s GDP stagnated. To put that another way, it means that the German economy managed to dodge a meltdown having contracted for the last three months.
Notwithstanding the fact that ZEW's indicator of investor confidence surged to a five-month maximum, its president Achim Wambach told that neither the institute nor the analysts it polled actually expect a fast revival.
In its latest monthly report, the country’s key financial institution told that recent dismal outcomes in factory orders along with a dive in business confidence hinted at minor hope of an immediate rebound for the Germen economy.
It forecast that the underlying tempo of the Germen economy needs to stay subdued at least in the first half of 2019, although it told that there aren’t any signs that the deceleration is turning into an outright downturn.
Euro Zone will reveal the ZEW Economic Sentiment index at 12:00 MT (GMT+2) on Tuesday, November 9.
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.