Germany’s economic confidence improved in January, survey results from the Mannheim-based think tank ZEW showed Tuesday.
The ZEW Indicator of Economic Sentiment rose 3 points to 20.4 in January. The score was forecast to climb slightly to 17.7.
The assessment of the current economic situation also improved in January, with corresponding index climbing 5.9 points to 95.2 points.
With 95.2 out of 100 points, this is the most positive assessment of the current economic situation since the introduction of the survey in December 1991, ZEW President Achim Wambach, said.
Wambach said private consumption, which was the most important driver of economic growth in 2017, is likely to continue to stimulate growth in the coming six months according to the survey participants.
Data showed that the financial market experts’ sentiment concerning the economic development of the Eurozone improved in January. The corresponding indicator climbed 2.8 points to 31.8.
The indicator for the current economic situation in the Eurozone strengthened in January, leaving the index at a level of 56.4 points, 5.7 points higher than in December.
The material has been provided by InstaForex Company – www.instaforex.com
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