Investing.com - German economic sentiment improved more-than-expected in August, easing concerns over the impact of the euro zone’s debt crisis on the region’s largest economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose by 5.7 points to hit a five-month high of 42.0 in August from July’s reading of 36.3.
Analysts had expected the index to rise by 3.7 points to 40.0 in August.
Meanwhile, the index of euro zone economic sentiment improved to 44.0 in August, the highest reading since April 2010 and up from 32.8 in July.
Economists had expected euro zone economic sentiment to rise to 37.4 this month.
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 was mildly higher against the U.S. dollar, with EUR/USD easing up 0.06% to trade at 1.3308.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France’s CAC 40 added 0.4%, Germany's DAX jumped 0.9%, while London’s FTSE 100 tacked on 0.6%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose by 5.7 points to hit a five-month high of 42.0 in August from July’s reading of 36.3.
Analysts had expected the index to rise by 3.7 points to 40.0 in August.
Meanwhile, the index of euro zone economic sentiment improved to 44.0 in August, the highest reading since April 2010 and up from 32.8 in July.
Economists had expected euro zone economic sentiment to rise to 37.4 this month.
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 was mildly higher against the U.S. dollar, with EUR/USD easing up 0.06% to trade at 1.3308.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France’s CAC 40 added 0.4%, Germany's DAX jumped 0.9%, while London’s FTSE 100 tacked on 0.6%.