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Economic sentiment in Germany shows unexpected rebound this month
(MENAFN) Economic sentiment in Germany showed an unexpected rebound in December, according to data released on Tuesday. The Leibniz Centre for European Economic Research's (ZEW) indicator of economic sentiment for Germany rose by 8.3 points from the previous month, reaching 15.3 points in December. This figure exceeded market expectations, which had predicted a decline to 6.5 points from November's 7.4 points.
ZEW head Achim Wambach attributed the improvement to factors such as upcoming snap elections in Germany, which have raised expectations of economic policies that encourage private investment. Additionally, the prospect of further interest rate cuts has contributed to an optimistic economic outlook for the country. This shift in sentiment highlights a growing sense of confidence in the economic trajectory moving forward.
However, the assessment of Germany's current economic situation weakened slightly, dropping by 1.7 points to -93.1 points in December. This suggests that while future expectations have improved, there are still significant concerns about the present state of the economy.
In the broader euro area, the ZEW indicator of economic sentiment also showed positive movement, increasing by 4.5 points to reach 17 points in December. This suggests a more favorable economic outlook for the region, reflecting growing optimism despite ongoing economic challenges.
ZEW head Achim Wambach attributed the improvement to factors such as upcoming snap elections in Germany, which have raised expectations of economic policies that encourage private investment. Additionally, the prospect of further interest rate cuts has contributed to an optimistic economic outlook for the country. This shift in sentiment highlights a growing sense of confidence in the economic trajectory moving forward.
However, the assessment of Germany's current economic situation weakened slightly, dropping by 1.7 points to -93.1 points in December. This suggests that while future expectations have improved, there are still significant concerns about the present state of the economy.
In the broader euro area, the ZEW indicator of economic sentiment also showed positive movement, increasing by 4.5 points to reach 17 points in December. This suggests a more favorable economic outlook for the region, reflecting growing optimism despite ongoing economic challenges.
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