Investing.com - German economic sentiment improved more-than-expected in November, rising to the highest level since October 2009, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose by 1.8 points to hit 54.6 in November from October’s reading of 52.8.
Analysts had expected the index to rise by 1.2 points to 54.0 this month.
The Current Conditions Index slumped to 28.7 in November from 29.7 in October, disappointing expectations for an increase to 31.0.
Meanwhile, the index of euro zone economic sentiment inched up to 60.2 in November, up from 59.1 in October but below expectations for an increase to 63.1.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Following the release of that data, the euro remained little changed against the U.S. dollar, with EUR/USD inching up 0.03% to trade at 1.3510.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.75%, France’s CAC 40 declined 0.9%, Germany's DAX shed 0.4%, while London’s FTSE 100 dipped 0.55%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose by 1.8 points to hit 54.6 in November from October’s reading of 52.8.
Analysts had expected the index to rise by 1.2 points to 54.0 this month.
The Current Conditions Index slumped to 28.7 in November from 29.7 in October, disappointing expectations for an increase to 31.0.
Meanwhile, the index of euro zone economic sentiment inched up to 60.2 in November, up from 59.1 in October but below expectations for an increase to 63.1.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Following the release of that data, the euro remained little changed against the U.S. dollar, with EUR/USD inching up 0.03% to trade at 1.3510.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.75%, France’s CAC 40 declined 0.9%, Germany's DAX shed 0.4%, while London’s FTSE 100 dipped 0.55%.