The Ifo survey’s main indicator released on Tuesday was 108.3 for August, beating the previous month’s 108 and surpassing economists’ expectations of 107.5 in a survey ahead of the release. Other world markets surged on the news out of Beijing, and for a while, it appeared that U.S. stocks would follow suit and that the global sell-off might stop.
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Analysts are predicting growth of 1.8 percent for 2015.
“Positive impulses came primarily from foreign trade”, the statisticians said in a statement.
Ifo calculates its headline index on the basis of companies’ assessments of the current business environment and the outlook for the next six months.
“Neither the Greek crisis nor the new Chinese uncertainties and stock-market turbulence have been able to dent German business optimism”, said Carsten Brzeski, chief economist at ING Diba AG in Frankfurt.
The Dow ended with a loss of 204.91 points, or 1.3 percent, at 15,666.44.
“Most significant for the pickup in Germany are rising employment and private consumption”, said Zettelmeyer.
He famous that German exports to China have already slowed within the first half of the yr, with out derailing the German restoration.
In Berlin, French Economy Minister Emmanuel Macron warned that China’s faltering growth posed a threat to a recovery in the global economy, and said his government’s growth forecast for the current year was now at risk.
“They’re relieved by what China has done”, said Chris Gaffney, president of EverBank World Markets, and are telling themselves: “Maybe it’s time to get back in there”.
According to provisional calculations, exports of goods and services rose 2.2 percent sequentially following a 1.2 percent rise in the first quarter.
For most of the day, it appeared that the market had shaken off some of its worries about the slowdown in China, and at one point the Dow was up by as much as 441. Recent figures show that German’s economy, Europe’s largest, is increasingly supported by domestic consumer spending as well as exports.
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Individually, Germany introduced a price range surplus of 21.1 billion euros ($24.26 billion) within the first half of the yr on wholesome tax income and a windfall from the sale of cellphone frequencies. “The immediate consequences for the German economy should, however, be limited”, the spokeswoman said.
