German business optimism up on strong domestic economy
FRANKFURT, Germany (AP) — A key measure of German economic optimism rose more than expected thanks to strong domestic demand from consumers.
The ZEW index rose to 10.4 points in November from 1.9 points the month before. Market analysts expected 6.0 points.
It was the first increase after seven consecutive declines. The terror attacks in Paris were not fully reflected in the survey, conducted from Nov. 2 through Monday.
Clemens Fuest, head of the ZEW, or Centre for European Economic Research, said Tuesday that "the outlook for the German economy is brightening again towards the end of the year. "
He said strong consumer spending and a lower euro, which helps exporters, were contributing to the more upbeat view.
Germany's economy grew a modest 0.3 percent in the third quarter from the quarter before.