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Economic Confidence Rises in Germany
The ZEW Indicator of Economic Sentiment for Germany gained 13.5 points in January to reach an 11-month high of 48.4 points.
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The ZEW Indicator of Economic Sentiment for Germany gained 13.5 points in January to reach an 11-month high of 48.4 points.
It was the third monthly advance for the closely watched measure of sentiment in Germany's financial market. The index, which is calculated by the Center for European Economic Research in Mannheim, began last year above 60 points but slid to -3.6 by October.
ZEW says the country's financial experts appear unfazed by economic uncertainty in Europe. It notes that Germany's financial community also is becoming more confident about the outlook for the eurozone. ZEW's January index for economic development of the eurozone rose to 45.2, up 13.4 points from December.
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