German ZEW Economic Sentiment improved notably to -2.1 in November, up from -22.8, beat expectation of -13.2. German ZEW Current Situation rose to -24.7, up from -25.3, but missed expectation of -22.0. Eurozone ZEW Economic Sentiment also rose sharply to -1.0, up from -23.5, and beat expectation of -11.5. Eurozone Current Situation rose 6.8 to -19.6.
“There is growing hope that the international economic policy environment will improve in the near future, which explains the sharp rise in the ZEW Indicator of Economic Sentiment in November. In the meantime, the chances for a agreement between Great Britain and the EU and thus for a regulated withdrawal of Great Britain have noticeably increased. Punitive tariffs on car imports from the EU to the United States are also less likely than the projections a few weeks ago. An agreement in the trade conflict between the USA and China is appearing more likely too,” comments ZEW President Professor Achim Wambach.