Economic expectations in Germany jumped in the first month of 2011 as the leading eurozone economy is poised to lead the region past stability concerns over the sovereign debt crisis, according to The Wall Street Journal. On Tuesday, ZEW reported that its economic expectations index rose for the third month in a row during January, jumping to 15.4 from 4.3 in December and outpacing economists’ expectations for a four-point rise.
The data from ZEW also showed that the index for current economic conditions was at its highest level since July 2007 as it inched up to 82.8 in January. Carsten Brzeski of ING was optimistic after the report, stating, “The diversified export mix, the labor market, and a further strengthening of private consumption should put growth in 2011 on a broad footing.” German gross domestic product added 3.6% in 2010, and the data suggests strong growth will continue in the first half of 2010, while the United Nations separately forecast for 2.2% German growth in 2011 as a whole.
