Despite positive data on GDP, the data on the climate of confidence among finance companies falls more than expected in Germany. The index elaborated by the study centre Zew fell 10,8 points in May, from 23,4 in April, interrupting an improving trend that had been going on for ten consecutive months. On average, analysts consulted by Dow Jones expected a contraction limited to 19,8 points.
“It may have contributed to this month's decline that the outcome of the elections in Greece and France has cast doubts on the intention of European governments to fight resolutely against the sovereign debt crisis“, says the Zew study center in a statement. The index is based on a survey of 284 analysts and investors conducted between April 30 and May 14.
