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19.11.2013 10:46

German ZEW economic sentiment tops forecast; highest since 2009

Germany's economic sentiment rose more-than-expected in November to its highest level in four years, results of a survey by the Centre for European Economic Research/ZEW showed on Tuesday.

The ZEW Indicator of Economic Sentiment for Germany rose to 54.6 from 52.8 in October. Economists had forecast a score of 54.

The latest reading is the highest since October 2009, ZEW said.

"Economic expectations for Germany have been hovering at a high level for months," ZEW President Clemens Fuest said. "The slightly improved economic outlook for the Eurozone might have contributed to this development."

Meanwhile, the current conditions index dropped to 28.7 from 29.7, in contrast to expectations of an improvement to 31.

Economic expectations for the Eurozone have slightly increased in November, with the corresponding index climbing to 60.2 from 59.1. The indicator for the current economic situation shed 0.7 points to a level of minus 61.6.

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