Germany’s sentiments are all over the map these days, making it a challenge to figure out whether its exchange traded fund (ETF) is worthy of a look right now.

Germany’s economy is known as the bellwether for economic growth and health in Europe, so how it’s doing really matters.

As the largest economy and one of the healthiest exporters in Europe, sentiment is closely monitored but the signals are decidedly mixed. Let’s look at the good and not great:

Despite the weaknesses, uncertainty and trouble spots, Germany looks poised to continue growing and making strides toward a full recovery, though its citizens are cautiously optimistic about that.

Watch iShares MSCI Germany (NYSEArca: EWG) closely, though, because if fear spreads about the eurozone debt crisis, Germany could get dragged down with it. It’s already seen some weakness in the last month, declining 3.1%.

Tisha Guerrero contributed to this article

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.