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Economic Optimism About Germany, Eurozone Surges
Confidence among European analysts and institutional investors in Germany's economic prospects over the next six months soared in January, according to the Centre of European Economic Research (ZEW).
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Confidence among European analysts and institutional investors in Germany's economic prospects over the next six months soared in January, according to the Centre of European Economic Research (ZEW).
The group's sentiment index for Germany, which jumped 22.6 points month on month in December, surged 24.6 points to a 30-month high of 31.5 in January. The gauge had been below zero for 14 of the previous 18 months.
ZEW says the index confirms December's reading of rising optimism that Germany will avoid recession and grow at a moderate pace this year.
The research group's measure of eurozone sentiment about future prospects soared 23.6 points. Optimism about the U.K.'s economy advanced 17 points. Respondents expect the euro to strengthen against the dollar.
Confidence in the auto industry improved 22 points but remains in negative territory. Nearly 40% of those polled say conditions will worsen and almost half predict no change.
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