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Germany ZEW Survey: Details Of Analysts' Economic Sentiment

Release for: September 2018
Survey among 199 analysts between August 27 and September 10, 2018
Source: Center for European Economic Research. ZEW
*Change in Level From Previous Month
                     Good         Normal               Bad         Balance
--------------------------------------------------------------------------------
                    Level  Chg     Level  Chg        Level    Chg    Level   Chg
Current
economy
                                          -0.
Eurozone             33.2  1.2      65.3    7          1.5   -0.5     31.7   1.7
                                          -3.
Germany              76.5  3.4      23.0    4          0.5   -0.0     76.0   3.4
                                          -0.
United States        84.6  1.5      14.9    5          0.5   -1.0     84.1   2.5
                                          -2.
Japan                21.7  3.5      75.0    9          3.3   -0.6     18.4   4.1
United Kingdom        8.7  0.4      75.5  0.6         15.8   -0.2     -7.1  -0.2
                           -0.            -0.
France               21.1    2      73.0    4          5.9    0.6     15.2  -0.8
                           -0.            -6.
Italy                 3.8    5      52.2    6         44.0    7.1    -40.2  -7.6
                                Unchange
                  Improve              d             Worse         Balance
                    Level  Chg     Level  Chg        Level    Chg    Level   Chg
Economic
expectations
                           -0.
Eurozone             16.3    0      60.2  3.9         23.5   -3.9     -7.2   3.9
                           -1.
Germany              11.8    9      65.8  6.9         22.4   -5.0    -10.6   3.1
                           -3.            -1.
United States        10.3    0      62.2    9         27.5    4.9    -17.2  -7.9
                                          -1.
Japan                 9.3  0.3      78.7    1         12.0    0.8     -2.7  -0.5
                           -1.
United Kingdom        3.3    0      32.4  0.1         64.3    0.9    -61.0  -1.9
France               15.6  0.6      67.2  5.2         17.2   -5.8     -1.6   6.4
                           -2.            -0.
Italy                 6.0    2      53.3    5         40.7    2.7    -34.7  -4.9
                                Unchange
                     Rise              d           Decline         Balance
                    Level  Chg     Level  Chg        Level    Chg    Level   Chg
CPI
                           -9.
Eurozone             35.2    2      53.6  9.7         11.2   -0.5     24.0  -8.7
                           -6.
Germany              39.3    3      50.5  8.4         10.2   -2.1     29.1  -4.2
                           -1.
United States        56.4    8      34.4  1.4          9.2    0.4     47.2  -2.2
                           -1.
Japan                16.0    9      79.6  3.6          4.4   -1.7     11.6  -0.2
United Kingdom       54.1  2.7      37.7  2.2          8.2   -4.9     45.9   7.6
                           -8.
France               31.4    4      57.8  9.4         10.8   -1.0     20.6  -7.4
                           -6.
Italy                31.3    0      54.6  6.2         14.1   -0.2     17.2  -5.8
Short-term
interest rates
                           -0.            -0.
Eurozone             10.2    0      89.8    0          0.0   -0.0     10.2  -0.0
                           -4.
United States        86.4    8      13.6  4.8          0.0   -0.0     86.4  -4.8
                           -3.
Japan                 2.8    4      97.2  3.4          0.0   -0.0      2.8  -3.4
                                          -1.
United Kingdom       46.1  1.9      51.1    9          2.8   -0.0     43.3   1.9
Long-term
interest rates
                           -5.
Germany              59.5    2      39.0  5.2          1.5   -0.0     58.0  -5.2
                                          -1.
United States        73.2  1.1      24.2    1          2.6   -0.0     70.6   1.1
                           -0.
Japan                18.7    4      80.2  0.4          1.1   -0.0     17.6  -0.4
                                          -6.
United Kingdom       59.9  5.8      35.7    4          4.4    0.6     55.5   5.2
Stock market
prices
                                          -2.
Eurozone             47.6  5.4      40.4    8         12.0   -2.6     35.6   8.0
                                          -3.
Germany(DAX)         51.9  6.5      35.0    4         13.1  - 3.1     38.8   9.6
Germany(NEMAX5             10.            -5.
0)                   55.0    2      32.7    8         12.3   -4.4     42.7  14.6
                                          -0.
United States        44.1  3.3      39.5    7         16.4   -2.6     27.7   5.9
                                          -3.
Japan                36.4  1.3      50.6    0         13.0    1.7     23.4  -0.4
                                          -4.
United Kingdom       29.1  7.2      37.6    4         33.3   -2.8     -4.2  10.0
                                          -8.
France               44.5  9.4      40.9    2         14.6   -1.2     29.9  10.6
Italy                28.8  4.1      43.6  0.2         27.6   -4.3      1.2   8.4
                Apreciati       Unchange       Depreciatio
Exchange rates         on              d                 n         Balance
vs euro(1)          Level  Chg     Level  Chg        Level    Chg    Level   Chg
                           -6.
US Dollar            41.5    9      38.3  4.6         20.2    2.3     21.3  -9.2
                                          -6.
Yen                  15.0  2.2      71.7    7         13.3    4.5      1.7  -2.3
                           -1.            -3.
British Pound        10.7    1      32.6    6         56.7    4.7    -46.0  -5.8
                           -1.            -0.
Swiss Franc          15.6    7      70.0    4         14.4    2.1      1.2  -3.8
Crude oil                                 -5.
prices               21.2  4.9      63.0    0         15.8    0.1      5.4   4.8
                                Unchange
                  Improve              d             Worse         Balance
                    Level  Chg     Level  Chg        Level    Chg    Level   Chg
Germany
Sectors
                           -4.
Banks                12.5    5      54.2  3.0         33.3    1.5    -20.8  -6.0
                           -0.
Insurances           12.5    4      58.9  2.4         28.6   -2.0    -16.1   1.6
Vehicle                    -2.
industry              3.6    4      47.6  0.9         48.8    1.5    -45.2  -3.9
                                          -1.
Chemical ind.        23.7  0.2      64.2    5         12.1    1.3     11.6  -1.1
Steel industry       14.6  4.3      52.1  8.5         33.3  -12.8    -18.7  17.1
Electrical                                -3.
ind.                 25.3  2.6      65.7    8          9.0    1.2     16.3   1.4
                                          -0.
Machinery ind.       27.7  3.9      58.4    5         13.9   -3.4     13.8   7.3
Consumer                                  -0.
gds/retail           44.0  3.0      51.8    6          4.2   -2.4     39.8   5.4
                                          -2.
Construction         47.2  3.1      45.5    1          7.3   -1.0     39.9   4.1
                           -2.
Utilities            15.0    3      76.6  2.2          8.4    0.1      6.6  -2.4
                           -0.
Service Sector       31.9    9      65.1  1.5          3.0   -0.6     28.9  -0.3
Telecommunicat
ion                  24.1  4.4      72.3  2.5          3.6   -6.9     20.5  11.3
Info                                      -5.
Technology           59.1  6.4      39.0    8          1.9   -0.6     57.2   7.0
--------------------------------------------------------------------------------
-
negative balance indicates an expected depreciation and the currency vs 
the euro. A positive an appreciation
--MNI Frankfurt Bureau; +49 69-720-142; email: anna.uvarova@marketnews.com.com
[TOPICS: MTABLE,MAGDT$,M$E$$$,M$G$$$,M$X$$$]

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