German Economic Sentiment Weakens In December

Germany’s economic sentiment weakened in December, survey data from the Mannheim-based think tank ZEW showed Tuesday.

The ZEW Indicator of Economic Sentiment fell 1.3 points to 17.4 in December. The indicator remained below its long-term average of 23.7 and the expected level of 17.6.

Meanwhile, the assessment of the current economic situation rose 0.5 points to 89.3 points. The score was forecast to drop marginally to 88.7.

“Overall, the outlook for the German economy in the coming six months remains positive,” ZEW President Professor Achim Wambach, said.

“The current state of uncertainty surrounding the government formation in Germany has not had any significant impact on the assessment of the economic outlook.”

The financial market experts’ sentiment concerning the economic development of the Eurozone decreased by 1.9 points to 29.0 points.

The indicator for the current economic situation in the Eurozone continued to improve in December, climbing by 2.9 points to a level of 50.7 points in December.
Source: RTT News