German ZEW economic sentiment improves further in November

The German business morale showed a continued improvement and rose above expectations in November, following a dramatic improvement seen previously, a ZEW survey showed on Tuesday.

The headline ZEW economic sentiment came in at 13.8 in November, much higher than 6.2 points booked in Oct, beating markets’ expectations of a 8.1 reading.

However, the current situations sub-indicator failed to keep the upbeat momentum intact and eased to 58.8 points in Nov, down from September’s 59.5. Markets had predicted a rise to 61.5 points.

Separately, the Eurozone flash GDP showed no growth in Q3, staying unchanged at +0.3%, although came in line with expectations.