German ZEW Economic Sentiment rises more than expected

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Source: ZEW
German ZEW Economic Sentiment rose 22.6 points to the highest level in seven months in December 2012, overshooting economists' projections. The Index of investor and analyst expectations increased from minus 15.7 in November to 6.9, while economists estimated a gain to minus 11.5.

"The financial market experts forecast the development of the economic activity in 2013 with pre-Christmas optimism. Although the cooling down of the economic activity will last until the beginning of 2013, Germany will not have to face a recession. However, this only applies if the crises in the Eurozone do not deepen once again," said Wolfgang Franz, ZEW President.
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