Few Bright Spots in the German ZEW Survey

March 18, 2014

By Knowledge Leaders Team in Uncategorized

The economic outlook in Germany weakened for the third month in a row, according to the latest ZEW survey:

Anticipation of stock market gains has fallen steadily since last September:

The expectation for improvement in profits (red line) fell in a number of industries in March:

Autos

Banks

Information Technology

Services

Telecommunications

On the bright side, there has been a continued rise in profit expectations for the chemical and pharmaceutical industry…

And there seem to be few complaints about the current economic situation:

Compared to its neighbors, we find similar declines in sentiment for the U.K. (and Europe as a whole) while sentiment actually rose in France and Italy:

Tags > Europe, Germany, sentiment, ZEW

Disclosures

The information presented here is for informational purposes only and is not to be construed as an offer to sell, or the solicitation of an offer to buy, securities. Some investments are not suitable for all investors, and there can be no assurance that any investment strategy will be successful. Hyperlinks may be included in this message that provide direct access to other internet resources, including web sites. While we believe these links are to reliable sources, Knowledge Leaders Capital (“KLC”) has no control over the accuracy or content of information contained on these sites. Although we make every effort to ensure such links are accurate, up to date and relevant, we have no control over pages maintained by external providers. The views expressed by these external providers on their own web pages or on external sites they link to are not necessarily those of Knowledge Leaders Capital.

The information provided on this blog is for illustrative or example purposes only and should not be construed as KLC’s opinion or investment outlook. As of the most recent quarter end, the named companies may have been held by KLC. For full information including additional policies and full disclosures, please visit our website: KnowledgeLeadersCapital.com.

Any reference to Index performance does not represent the performance of any investment product offered by Knowledge Leaders Capital, LLC. An investor cannot invest directly in an index. The performance of client account may vary from the Index performance. Index returns shown are not reflective of actual investor performance nor do they reflect fees and expenses applicable to investing.

Companies are selected for “Spotlights” based on high levels of innovation activities in their respective industries and illustrate innovation being employed across all sectors and geographies. Spotlight selection is separate from stock selection by the investment team. Spotlights are not necessarily representative of investment opportunities and can be selected regardless of investment performance or inclusion as a KLC holding.