Economic Sentiment for Germany up for the first time in seven months

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Tuesday, Nov 17 2015

The ZEW Indicator of Economic Sentiment for Germany has increased in November 2015. Gaining 8.5 points compared to the previous month, the index now stands at 10.4 points (long-term average: 24.8 points). Smaller incline to 6.7 points was expected. The indicator has improved for the first time following seven consecutive declines.

"The outlook for the German economy is brightening again towards the end of the year. Economic pessimism appears not to have increased after the terror attacks in Paris. The currently high level of consumption in Germany, the recent decline in the external value of the euro, and the ongoing recovery in the United States are likely to bolster the robust development of the German economy," comments ZEW President Professor Clemens Fuest.

Financial market experts' sentiment concerning the economic development of the Eurozone has weakened. ZEW’s Indicator of Economic Sentiment for the Eurozone has decreased by 1.8 points to a reading of 28.3 points. Analysts were anticipating increase to 35.2. Gaining 1.2 points in September 2015, the indicator for the current situation in the euro area has climbed to a value of minus 10.0 points.

Euro is currently being traded around 1.0660 area. Pair is likely to find support around 1.06 handle and resistance above 1.07 level. Later today, in the US session, CPI and Industrial Production figures are scheduled for a release.

More in this category: « UK CPI fell by 0.1% U.S. CPI rose in line with market expectations »

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