Economic morale in Germany improves in December
Date
12/18/2024 12:56:47 AM
(MENAFN)
Economic morale in Germany experienced an unexpected rebound in December compared to the previous month, as revealed by data released on Tuesday.
The Leibniz Centre for European Economic Research's (ZEW) closely-watched indicator of economic sentiment for Germany showed an increase of 8.3 points, climbing from the previous month to reach 15.3 points in December.
In contrast to this improvement, the market had initially forecast a decline in the indicator, expecting it to fall to 6.5 in December from 7.4 in November.
"With snap elections ahead in Germany and the resulting expectations of an economic policy encouraging private investment as well as the prospect of further interest rate cuts, the economic outlook is improving," stated ZEW head Achim Wambach.
However, the assessment of Germany's current economic situation saw a decline, dropping by 1.7 points to reach minus 93.1 points.
Meanwhile, the ZEW indicator of economic sentiment for the euro area also demonstrated growth, rising 4.5 points from the previous month to stand at 17 points in December.
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