19 July 2005, 13:34 ZEW German July expectations index +37.0 vs 19.5 in June; Consensus +22.0
The ZEW research institute said its German economic expectations index for July soared 17.5 points to +37.0 from +19.5 in June
The consensus forecast of economists polled by AFX News was for a rise to +22.0.
The indicator is just above the historical median of +34.2 points. A reason for the significant rise, despite high oil prices, is the worldwide strong economic development, the ZEW said
This and the weaker euro has contributed to a stronger order inflow in Germany, it added
"Whether this means a actual sustainable development of higher expectations remains to be seen," said Wolfgang Franz, president of the ZEW
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