ZEW: Index of Economic Sentiment for Germany Rises in December
German economic sentiment improved in December. The Mannheim-based ZEW research institute said its economic sentiment index increased to -17.5 in December from -24.1 in November, compared to the forecast for a reading of -25.0. Despite this increase, the indicator is still clearly in negative territory and remains well below the long-term average of 22.5 points. The sub-index current conditions figure fell to 45.3 versus 55.8 expected and 58.2 seen previously.
The ZEW index of Eurozone economic sentiment increased to -21.0 in December from -22.0 in November. Analysts had expected the index to fall to -23.2.
"The assessment of the economic situation has worsened dramatically for both Germany and the euro zone. This is indicative of relatively weak economic growth in the fourth quarter. Uncertainties also remain in terms of the looming international trade dispute and Brexit, which have a particularly negative impact on private investment and Germany's exports," Achim Wambach, ZEW's president said.