Reports

File: December 2013 Eco Report (Engl.)

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Germany takes off, the euro zone a breather

The composite index for the euro area drops in November from 9.3 to 8.0 points. The reason for this is a slightly clouded perception of the economic situation. Investor expectations rise, however, to their highest reading since April 2006! Germany once again defies the development of the euro zone aggregate. The composite index for Germany rises by around two to now 32.1 points and, with that, to its highest reading since December 2010. Expectations climb, as they did last month, to new all-time highs (since the introduction of the survey now almost five years ago). This month's winner, however, is the USA. For the US, the composite index rises by over 10 points. This, in turn, drives the composite index for the global aggregate, which rises for the fifth consecutive month and has now reached a level last seen in April 2011.

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