ZEW Survey Jumps As Experts See Brighter German Economy

Financial-market experts became more confident about Germany's prospects in December, with the ZEW indicator for economic sentiment jumping to the highest level since May, the Center for European Economic Research, or ZEW, said on Tuesday. The sentiment indicator jumped 23.4 points to stand at 34.9, exceeding forecasts of a 20-point reading. "This increase is related to favorable economic conditions such as the weak euro and the low crude-oil price," ZEW President Clemens Fuest said in the release. "However, we should be aware that the current optimism is fueled by factors that might change even over the short term," he added. Optimism also increased about the eurozone's economy, with the sentiment indicator for the currency union climbing by 20.8 points to 31.8 points.