Confidence among analysts and investment bankers in Germany rose again in December as the US and eurozone economies continued to strengthen. The ZEW Institute said its economic sentiment index for Germany rose to 73.4 points in December from 67.2 in November. The eurozone outlook index also rose, to 78.2 from 72.1. "These optimistic expectations are supported by fundamental factors such as the strong increase in incoming orders in Germany and the robust US-economy. For this reason the stronger euro is currently of minor importance," said ZEW president Wolfgang Franz.
The eurozone economy expanded for the first time in a year in the third quarter, led by a 2.2pc surge in exports as the US recovery improved. The ZEW, which surveyed more than 300 analysts and institutional investors, said the evaluation of Germany's current economic situation was also slightly less pessimistic this month. Less than 84pc of those interviewed felt that the current economic situation was bad compared to 87.5pc in the previous month. Economic sentiment for the eurozone also improved. //www.fxcentre.com