FRANKFURT, Nov. 12 (Xinhua) -- A monthly survey published Tuesday by a German economic research institute showed that the economic sentiment, both for Germany and the euro zone, has risen substantially in November.
The Leibniz Center for European Economic Research in Mannheim (ZEW) said that its latest survey showed the ZEW Indicator of Economic Sentiment for Germany climbed 20.7 points from the previous month to minus 2.1 points in November.
The indicator has been in the negative territory since May 2019, and dipped to below minus 40 points in August, ZEW data showed.
For the November survey, the indicator for the economic situation in Germany also increased slightly, up 0.6 points to minus 24.7 points.
"There is growing hope that the international economic policy environment will improve in the near future, which explains the sharp rise in the ZEW Indicator of Economic Sentiment in November," explained ZEW President Achim Wambach.
Wambach cited several positive factors, including increased chances for an agreement between Great Britain and the European Union. The punitive tariffs on car imports from the EU to the United States are less likely than the projections a few weeks ago, he said.
The ZEW Financial Market Survey was conducted among 200 analysts and institutional investors. The participants' sentiment concerning the economic development of the euro zone also improved greatly, standing at minus 1.0 points for November, 22.5 points higher than in the previous month.
The indicator for the current economic situation in the euro zone rose 6.8 points to minus 19.6 points.
The survey also showed the indicator regarding expectations for short-term interest rates rose by 13.4 points to minus 11.7 points, although as much as 84.1 percent of the survey participants expected interest rates to remain unchanged for the next six months.
