German ZEW Index to decline to a 12.3 – Nomura

Following the past two weeks of increased financial market volatility and because of the implied tightening of financial conditions, analysts at Nomura expect the German ZEW Index to decline to a 12.3 (from 20.4 in January).

Key Quotes

“This would reflect greater concerns among German analysts about financial market volatility rather than greater angst about the outlook for Germany’s economy. The fundamentals for the German economy, after all, remain sound in our view.”