Economic sentiment in Germany and the euro area has improved significantly, according to a ZEW survey
In the ZEW survey, the German sentiment index, which reflects the expectations of economic participants, increased by 12.2 points to 71.5 points from the 59.3 points in July. Analysts expected the deterioration in sentiment to 58.0 points in August.
In March this year, the indicator was the lowest, at minus 49.5 points. It has risen since then.
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