- Juan Pablo Lopez, an analyst at Espirito Santo Investment Bank
Confidence among German investors brightened further in December, adding to sign the Europe's largest economy will pick up speed once again the beginning of 2013. The Ifo institute said that their business climate index rose to 102.4 this month, up from 101.4 in November. This is the second straight increase after sentiment dropped to a two-year low in October, so companies regained confidence, while expectations for exports improved as well.
"Recent survey evidence suggests sentiment is bottoming out in Germany, providing further support to our view that the weakness in German economic outlook is not to last long," said Gizem Kara, European economist at BNP Paribas in London.
"There is a certain calming down at the end of the year. Export expectations have risen. Companies are growing confident again," Ifo economist Klaus Wohlrabe said, adding that business was going well in the run-up to Christmas.
Also Wednesday, the ECB said the Eurozone current account surplus grew in October, indicating some positive aspects for the region's economy. Eurozone current account rose to 3.9 billion euros ($5.1 billion), compared to a surplus of 2.4 billion in September, revised up from the 0.8 billion originally reported.
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