The investor confidence in Germany remained unchanged in December, shows the index of the Centre for European Economic Research (ZEW). Its value remained the same, as in November at level of 13.8 points, while the expectations were to rise to 14.2 points. However, the indicator for the current situation in Germany grow with 4.7 points to 63.5 points.
Financial market sentiment about economic developments in the Eurozone improved slightly, as the sub-index recorded an increase of 2.3 points to 18.1 points. The indicator for the current economic situation in the Eurozone rose by one point to -8.3 points.
Meanwhile, the data earlier in the day showed that German growth cooled more than estimated last quarter, there are also signs that Europe’s largest economy is regaining its momentum with business confidence at a two-year high in October and joblessness at a fresh record low. Moreover, global financial markets have rallied since the election of Trump last week as investors bet that he’ll follow through on a pledge to unleash a wave of fiscal stimulus.
“The index of economic sentiment remained at the same level. Given that the assessment of the current situation once again improved overall attitudes are good”, said President of Centre for European Economic Research (ZEW), Achim Wambach. “This is supported by recently published better data on GDP growth in the Eurozone in the third quarter. Significant economic risks stemming from the tense situation in the Italian banking sector and political risks because of the upcoming elections in Europe seem to go in the background”, added he.
ZEW’s gauge for current conditions slipped to 58.8 in November from 59.5. A measure for expectations in the euro area advanced to 15.8 from 12.3.
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