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German ZEW economic sentiment rises to 11-month high in January

Published Jan 20, 2015 05:02AM ET
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© Reuters. German ZEW economic sentiment rises more than forecast in January
 
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Investing.com - German economic sentiment improved to the highest level in almost a year in January, easing concerns over 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 rose by 13.5 points to 48.4 this month from December’s reading of 34.9.

Analysts had expected the index to improve by 5.1 points to 40.0 in January.

The Current Conditions Index improved to 22.4 this month from 10.0 in December, better than expectations for a rise to 14.8.

Meanwhile, the index of euro zone economic sentiment increased to a six-month high of 45.2 in January from 31.8 in December, above forecasts for a gain to 37.6.

On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.

EUR/USD was trading at 1.1608 from around 1.1603 ahead of the release of the data, while EUR/GBP was at 0.7659 from 0.7656 earlier.

Meanwhile, European stock markets held on to gains. Germany's DAX tacked on 0.1%, the EURO STOXX 50 inched up 0.5%, France’s CAC 40 advanced 0.65%, while London’s FTSE 100 rose 0.3%.

German ZEW economic sentiment rises to 11-month high in January
 

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