The economic sentiment indicator in Germany stood at 12.8 points in December, improving from 9.8 registered the previous month, the Centre for European Economic Research (ZEW) unveiled in its report published on Tuesday. The figure came in above analysts' expectations.
The Current Conditions Index for Germany increased to a negative 77.1 in December from a negative 79.8 in November. Meanwhile, the economic sentiment index for the Eurozone jumped to 23.2 points.
"Despite the current budget crisis, the assessment of the current situation and economic expectations for Germany have once again risen slightly. This was due to the fact that the proportion of respondents who expect the ECB to cut interest rates in the medium term has doubled. This, in turn, is good news for the German construction industry, for which we are seeing much more optimistic expectations this month," ZEW President Professor Achim Wambach, PhD, said.
