Investing.com - German economic sentiment improved significantly more-than-expected in December, fuelling optimism over the health of the euro zone’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 soared by 7.4 points to hit 62.0 this month from November’s reading of 54.6. Analysts had expected the index to rise by 0.4 points to 55.0 in December.
The Current Conditions Index improved to 32.4 this month from 28.7 in November, beating expectations for an increase to 30.0.
Meanwhile, the index of euro zone economic sentiment rose to 68.3 in December from 60.2 in November and above expectations for an increase to 60.9.
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 0.05% to trade at 1.3769, compared to 1.3765 ahead of the data.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.6%, France’s CAC 40 declined 0.9%, Germany's DAX shed 0.45%, while London’s FTSE 100 dipped 0.5%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment soared by 7.4 points to hit 62.0 this month from November’s reading of 54.6. Analysts had expected the index to rise by 0.4 points to 55.0 in December.
The Current Conditions Index improved to 32.4 this month from 28.7 in November, beating expectations for an increase to 30.0.
Meanwhile, the index of euro zone economic sentiment rose to 68.3 in December from 60.2 in November and above expectations for an increase to 60.9.
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 0.05% to trade at 1.3769, compared to 1.3765 ahead of the data.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.6%, France’s CAC 40 declined 0.9%, Germany's DAX shed 0.45%, while London’s FTSE 100 dipped 0.5%.