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16 Dec 2014
German Economic Sentiment rises to highest since May 2014
FXStreet (Mumbai) - The Zew indicator of Economic sentiment for Germany rose to 34.9 in December, highest since May 2014. The indicator has moved well above its long-term average of 24.4 points.
The assessment of the current situation in Germany also improved to 10.0 points in November. Both the data for Germany easily surpassed the median estimates. Meanwhile, the Zew data also showed the sentiment indicator for the Eurozone increased to a reading of 31.8 points in December, while the indicator for the current situation in the Eurozone decreased in December to minus 62.8 points.
As per ZEW President, Professor Clemens Fuest, “Confidence in the German economy seems to be slowly returning among the financial market experts surveyed by ZEW. This increase is related to favorable economic conditions such as the weak euro and the low crude oil price. The recently published German export figures already show a positive trend. However, we should be aware that the current optimism is fuelled by factors that might change even over the short term.”
The assessment of the current situation in Germany also improved to 10.0 points in November. Both the data for Germany easily surpassed the median estimates. Meanwhile, the Zew data also showed the sentiment indicator for the Eurozone increased to a reading of 31.8 points in December, while the indicator for the current situation in the Eurozone decreased in December to minus 62.8 points.
As per ZEW President, Professor Clemens Fuest, “Confidence in the German economy seems to be slowly returning among the financial market experts surveyed by ZEW. This increase is related to favorable economic conditions such as the weak euro and the low crude oil price. The recently published German export figures already show a positive trend. However, we should be aware that the current optimism is fuelled by factors that might change even over the short term.”