12/10/2019, 11:02 AM (Source: TeleTrader)
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ZEW: German economic sentiment improves in December

German economic sentiment was 10.7 in December, increasing by 12.8 points month-on-month, the Centre for European Economic Research (ZEW) said on Tuesday. Eurozone sentiment also improved as ZEW said its indicator for the euro area was at 11.2 points, which compares to -1 in November. The assessment of the current situation in Germany improved by 4.8 points to -19.9 from the previous month while the same metric for Eurozone rose significantly again by 4.9 points, climbing to -14.7 points.

ZEW President Professor Achim Wambach said that the positive reading “rests on the hope that German exports and private consumption will develop better than previously thought.”

He added that “this hope results from a higher than expected German foreign trade surplus in October, alongside relatively robust economic growth in the EU in the third quarter and a stable German labour market. The rather unfavourable figures for industrial production and incoming orders for October, however, show that the economy is still quite fragile.”

Breaking the News / TF