German analyst and investor sentiment improved more than expected this month on signs that the recession in the euro zone is bottoming out, a survey showed yesterday, underscoring a brightening outlook for Europe's largest economy.
The ZEW think tank's monthly poll of economic sentiment stood at 52.8, up from 49.6 last month and its highest level since April 2010.
"For Germany, it's relatively good news regarding the business cycle," said ZEW economist Marcus Kappler. "Early indicators at the moment are positive especially for the euro zone. Recession in the euro zone is bottoming out."
ZEW said sentiment would have risen even more were it not for a fiscal crisis in the United States.
Economists said the positive ZEW data fit into the overall picture of the German economy gradually improving over the year.
It steamed ahead during the early years of the euro-zone crisis before weakening last year, but economic growth bounced in the second quarter of this year. Economists generally expect the third quarter saw slower but solid growth.
Read more: Bright euro-zone outlook boosts German sentiment | South China Morning Post
The ZEW think tank's monthly poll of economic sentiment stood at 52.8, up from 49.6 last month and its highest level since April 2010.
"For Germany, it's relatively good news regarding the business cycle," said ZEW economist Marcus Kappler. "Early indicators at the moment are positive especially for the euro zone. Recession in the euro zone is bottoming out."
ZEW said sentiment would have risen even more were it not for a fiscal crisis in the United States.
Economists said the positive ZEW data fit into the overall picture of the German economy gradually improving over the year.
It steamed ahead during the early years of the euro-zone crisis before weakening last year, but economic growth bounced in the second quarter of this year. Economists generally expect the third quarter saw slower but solid growth.
Read more: Bright euro-zone outlook boosts German sentiment | South China Morning Post
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