German analyst and investor confidence jumps in January
The Zew economic sentiment index has revealed German analyst and investor confidence surged in January.
The index, which measures expectations of economic activity over the next six months, jumped to 15.4 points in January, from 4.3 last month.
The reading wash much higher than analysts had expected and represented the highest level since July 2010.
The index was based on a survey of 284 analysts and investors and conducted between January 3 and 17.
Commenting on the figures, ING Financial Markets economist Carsten Brzeski, said: “The German economy is cruising along safely. It looks as if there is almost blind trust in the strength of the German recovery.”
The latest figures are further proof that Germany continues to lead the recovery in Europe.
Last week, Germany posted growth of 3.6% in 2010 – the strongest pace since German reunification in 1990, the Federal Statistical Office said.
Export demand helped to bring Germany out of recession in the second quarter of 2009 – much sooner than many of its counterparts throughout the world.