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Financial News: German Economic Sentiment Turns Positive In January

German Economic Sentiment Turns Positive In January

01/17/2023 - 05:29:00 (RTTNews)

(RTTNews) - Germany's economic sentiment turned positive in January for the first time in 11 months, survey results from ZEW showed on Tuesday.

The ZEW Indicator of Economic Sentiment surged 40.2 points to +16.9 in January. The score was forecast to climb slightly to -15.0. The indicator has turned positive for the first time since February 2022.

"The more favourable situation on the energy markets and the German government's energy price caps have contributed to this in particular," ZEW President Achim Wambach said.

The current economic situation index rose moderately by 2.8 points to -58.6 in January. The expected reading was -58.0.

Financial market experts' sentiment concerning eurozone also improved very strongly in January. The corresponding index advanced 40.3 to 16.7. The current conditions indicator stood at -54.8, up 2.6 points.

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