Konjunktur: ZEW-Barometer steigt unerwartet kräftig – Aber: „Niedrigwasser zusätzliches Risiko“

Berlin - Financial experts are surprisingly optimistic about Germany's economy, despite recent setbacks caused by the low water levels on the Rhine. The ZEW Barometer for economic expectations for the next six months rose by 7.9 points to 34.2 in August. This is the fourth consecutive increase and the highest level since the Iran war broke out at the end of February, the Mannheim Centre for European Economic Research (ZEW) reported on Tuesday after surveying 185 investors and analysts.

Economists from news agency Reuters had only expected a rise to 30 points. ZEW President Achim Wambach attributed the unexpected surge to strong quarterly figures and a recent surge in exports. "While Germany's economy continues to benefit from the federal government's infrastructure programs, the record-low water levels on the Rhine pose an acute short-term risk to the economic recovery," Wambach noted.

The current situation remains soberly assessed by market participants: while the barometer fell to minus 61.1 points - 16.5 points higher than the previous month - it still sits deep in the red. "Whether the positive impulses will be sufficient to overcome the economic trough sustainably remains to be seen," economist Elmar Völker of the Landesbank LBBW said.