ZEW index Germany jumps in January
German economic sentiment has improved strongly at the beginning of the year, according to the monthly ZEW index, which rose from 34.9bsp to 48.4bsp month on month.
Rising for the third month in a row, the ZEW index, which is based on a survey among 233 analysts and investors is now at the highest level since February 2014.
Alongside improved expectations for Germany, respondents are also increasingly optimistic about the economic outlook for the eurozone, which improved by 13.4 bsp to 45.2bsp.
The assessment of the current economic situation has also improved significantly, rising from 12.4 to 22.4 bsp for Germany while the assessment of the situation in the eurozone improved gradually to -57.1bsp marking an increase of 5.7bsp.
ZEW president Clemens Fuest comments: “Capital markets have seen a turbulent start of 2015. The news of the upcoming parliamentary elections in Greece and the abandoning of the peg between franc and euro have led to strong volatility.”
Key for the continued growth continue to be the persistently low level of oil prices and the further devaluation of the euro” he argues.