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Economic Sentiment Spikes In Germany

Joe WeisenthalOct 15, 2013, 14:39 IST

Here's the latest from the closely watched ZEW survey of financial market experts in Germany, regarding the state of the economy:

The ZEW Indicator of Economic Sentiment for Germany has increased by 7.6 points in September 2013. The indicator now stands at a level of 49.6 points (historical average: 23.8 points).

"The financial market experts hold the view that the German economy is still gaining momentum. In particular, the experts' economic optimism has increased due to the improved economic outlook for the Eurozone - although recently released economic data for Germany have fallen short of expectations", says ZEW President Prof. Dr. Clemens Fuest. The assessment of the current economic situation for Germany has also improved in September. The respective indicator has increased by 12.3 points and now stands at the 30.6 points-mark.

Economic expectations for the Eurozone have increased considerably in September. The respective indicator has improved by 14.6 points to 58.6 points. The indicator for the current economic situation in the Eurozone has increased by 14.4 to a level of minus 59.7 points.

ZEW