Investor sentiment in Germany rebounded in November after seven consecutive falls thanks to still resilient economic data from Europe's top economy, a leading survey said today.
The investor confidence index calculated by the ZEW economic institute rose to 10.4 points from just 1.9 points a month earlier, the think tank said in a statement.
"The outlook for the German economy is brightening towards the end of the year," said ZEW president Professor Clemens Fuest in a statement.
"Economic pessimism appears not to have increased after the terror attacks in Paris," he added, pointing to data received since Friday night's jihadist killings, the worst ever terror attacks on French soil.
"The currently high level of consumption in Germany, the recent decline in the external value of the euro, and the ongoing recovery in the US are likely to bolster the robust development of the German economy," he said.
For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.
The sub-index measuring financial market players' view of the current economic situation in Germany was largely unchanged, declining slightly by 0.8 points to 54.4 points, ZEW said.
The Germany economy was currently mainly consumption-driven, amid low global oil prices, analysts said.
They said that consumers see their disposable income increasing and - backed by strong employment figures, higher nominal wages and low interest rates - are finally spending it.
