Germany's closely watched ZEW economic indicator improved in its latest reading, with results gathered as governments worldwide got to grips with the financial crisis.
The ZEW economic research institute said its investor sentiment index had risen to -53.5 points this month from -63 points in October. The index had hit a record low of -63.9 in July.
'The earlier pessimistic expectations of the financial market experts are confirmed by the current economic development in Germany.
The experts, however, seem hopeful that the collective actions of governments and central banks will mitigate the economic slowdown,' said ZEW president Wolfgang Franz.
The slight rise in the general index 'partly corrects the considerable decline of expectations following the turbulences on the financial markets in the previous month,' the institute said.
A sub-index which measures investor's assessment of the current economic situation in Germany fell however by 14.5 points to 50.4 points.
