Investing.com - German economic sentiment improved unexpectedly in March, hitting the highest level since April 2010, industry data showed on Tuesday.
The report also showed that economic sentiment in the euro zone fell more-than-expected in March, underlining concerns over the region’s economic outlook.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment inched up by 0.3 points to 48.5 in March from February’s reading of 48.2.
Analysts had expected the index to ease down by 0.2 points to 48.0 in March.
The Current Situation index increased to 13.6 in March from 5.2 in February, compared to expectations for an increase to 6.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, the index of euro zone economic sentiment deteriorated by 9.0 points to 33.4 in March from a reading of 42.4 in February.
Economists had expected euro zone economic sentiment to improve by 1.3 points to 43.7.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.2938.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.6%, France’s CAC 40 declined 0.7%, Germany's DAX slumped 0.6%, while London’s FTSE 100 dipped 0.3%.
The report also showed that economic sentiment in the euro zone fell more-than-expected in March, underlining concerns over the region’s economic outlook.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment inched up by 0.3 points to 48.5 in March from February’s reading of 48.2.
Analysts had expected the index to ease down by 0.2 points to 48.0 in March.
The Current Situation index increased to 13.6 in March from 5.2 in February, compared to expectations for an increase to 6.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, the index of euro zone economic sentiment deteriorated by 9.0 points to 33.4 in March from a reading of 42.4 in February.
Economists had expected euro zone economic sentiment to improve by 1.3 points to 43.7.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.2938.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.6%, France’s CAC 40 declined 0.7%, Germany's DAX slumped 0.6%, while London’s FTSE 100 dipped 0.3%.