Germany's economic sentiment surprisingly betters in December

ANKARA

Economic morale in Germany unexpectedly rebounded in December compared to the prior month, according to data released on Tuesday.

The Leibniz Centre for European Economic Research's (ZEW) indicator of economic sentiment for Germany increased by 8.3 points from a month ago to 15.3 points in December.

The market projected the figure to fall to 6.5 this month from 7.4 in November.

"With snap elections ahead in Germany and the resulting expectations of an economic policy encouraging private investment as well as the prospect of further interest rate cuts, the economic outlook is improving," said ZEW head Achim Wambach.

The assessment of Germany's current economic situation, on the other hand, weakened by 1.7 points to minus 93.1 points.

The ZEW indicator of economic sentiment for the euro area gained 4.5 points month-on-month, reaching 17 points in December.