German financial investors has become more optimistic for German economy in the next six months, an indicator showed on Tuesday.
The Center for European Economic Research (ZEW) issued its December Indicator of Economic Sentiment for Germany on Tuesday. The indicator, based on a survey of 278 financial analysts for their prediction for the next six months, increased to plus 6.9 points from minus 15.7 in November.
This was the first time since May 2012 when the indicator stood on a positive territory. The jump was quite unexpected by economists, who had only predicted a slight increase to minus 12 points.
"The indicator's rise showed that the financial market experts expect the economic activity to stabilize until early summer 2013. They may have spurred the hope that the global economy will gain momentum," said Mannheim-based ZEW in a statement.
Experts' confidence for current economic situation for Germany increased slightly in December. The respective indicator grew by 0.3 points to 5.7 points-mark.
"Although the cooling down of the economic activity will last until the beginning of 2013, Germany will not have to face a recession," said ZEW President Wolfgang Franz in the statement.
He added, however, that "this only applies if the crises in the eurozone do not deepen once again."
German economy grew by 0.2 percent in the third quarter of 2012. Its performance was expected to be worse in the last three months.
German central bank, Deutsche Bundesbank, had slash