ZEW Indicator of Economic Sentiment.

I came across another Indicator which can be used to gauge economic confidence among analysts.

The ZEW Indicator of Economic Sentiment for Germany drops by 17.1 points in June 2010. The indicator now stands at 28.7 points after 45.8 points in the previous month. This value is slightly above the indicator's historical average of 27.4 points.

Detailed Results can be seen here

Looks like the Euro Crisis is having an impact on Markets and Economy .Fiscal Policies of high debt countries will be watched closely by markets and any disbelief on the countries not reducing debt and growth not improving then it is going to be disaster in coming days..

We have seen on June 4th how markets tanked after these comments:

Hungary's bonds fell after a spokesman for Prime Minister Viktor Orban said talk of a default is "not an exaggeration" because a previous administration "manipulated" figures.

Sovereign Credit-Default Swaps Surge on Hungarian Debt Crisis

Markets are in very fragile state and reacting to every bit of news coming . They are  in a stage where if governments reduce debt by increasing taxes,salary cut etc and there by slowing the growth is negative to them and if Govts increase the spending and increasing the debt is negative to them...Will see how it turns out to be in coming days

At least i feel  India is somewhat better shape though it mismanged its debt during the boom years..but as we are mostly consumption oriented domestic economy with good enough savings we might not indirectly feel the pressure of it . But after all this is a global economy and we are going to have ripple effects if anything again happens in west.