ZEW (Centre for European Economic Research) indicator of economic sentiment for Germany rose in January
Source: FxWire Pro - Commentary / 23 Jan 2018 14:50:53 Eastern Standard Time
The ZEW Indicator of Economic Sentiment for Germany rose 3 points to 20.4 points in January of 2018. The indicator continues to be slightly below the long-term average of 23.7 points. The assessment of the current economic situation in Germany rose 5.9 points, with the corresponding indicator standing at 95.2 points.
“The latest survey results reveal an optimistic outlook for the German economy in the first six months of 2018. With 95.2 out of 100 points, this is the most positive assessment of the current economic situation since the introduction of the survey in December 1991”, stated ZEW President Professor Achim Wambach.
Private consumption, which was the main driver of economic growth last year, is expected to continue to boost growth in the six months ahead showed the survey participants. The assessment of the global economic environment in Europe and the USA is also much more favorable than it was at the end of last year.
The financial market experts’ sentiment concerning the economic development of the euro area rose 2.8 points. The indicator for the current economic situation in the euro area also continued to rebound in January, leaving the index at a level of 56.4 points. The economic expectations for the euro area are therefore fairly positive.
The positive economic development is also seen in the fact that inflation expectations are rising, with the corresponding indicator for the euro area rising 11.3 points to a level of 57.5 points.
At 18:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral -0.665329, while the FxWirePro's Hourly Strength Index of US Dollar was bearish at -88.0855. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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