13 August 2013 13:45 [Source: ICIS news]
LONDON (ICIS)--German economic sentiment in August has reached its highest level since March, Germany’s Centre for European Economic Research (ZEW) said on Tuesday.
The ZEW indicator of economic sentiment gained 5.7 points to hit 42.0 in August compared to July’s 36.3 points, it added. The historical monthly average is 23.7.
“First signs of an end to the recession in important eurozone-countries may have contributed to the indicator’s rise,” ZEW said in a press release.
It added: “This is also reflected by the strong increase of economic expectations for the eurozone. Furthermore, the economic optimism is supported by the robust domestic demand in Germany.”
ZEW survey data – formed from surveying 256 analysts – showed that economic expectations for the eurozone climbed 11.2 points from last month to reach 44.0 in August.
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