The German central bank in its monthly report noted that the German economy got off to a solid start this year in the first quarter with private consumption and rising household spending emerging as key driving forces in the first three months of the year. The Bundesbank said that the pace of growth in the first quarter could be considerably above the central bank's forecasted growth rates and solidly above previous quarters. However, in its forward guidance, the Bundesbank sounded cautious noting that while the first quarter domestic consumption supported the economy to offset the weak demand from emerging markets and China, it expects a slower pace of growth with a slump in industrial orders and a downbeat mood among businesses. German ZEW economic sentiment data is expected to be released today with forecasts of an increase to 8.2 from 4.3 in March.
Shock from Doha Fades, Dow Closes Higher
Daily Analysis - 19/04/2016