FRANKFURT, Dec. 8 (Xinhua) -- The indicator of the economic sentiment in Germany largely recovered in December from a sharp decline in the previous month, buoyed by hopes on imminent vaccine approvals, according to the monthly expert survey published by the Leibniz Center for European Economic Research (ZEW) on Tuesday.
The ZEW indicator of the economic sentiment for Germany climbed 16.0 points to a reading of 55.0 points in December. "The announcement of imminent vaccine approvals makes financial market experts more confident about the future," ZEW President Achim Wambach spoke of the increase in a statement.
The ZEW indicator for the eurozone economic sentiment also saw a strong increase, up 21.6 points from the previous month to 54.4 points for December, the survey also showed.
Although the experts' expectations for the six months ahead have soared, assessment for the current economic situation stayed flat. The assessment of the economic situation in Germany stood at minus 66.5 points, 2.2 points lower than in November, while a similar indicator for the eurozone edged up 0.7 points from a month ago to minus 75.7 points.
To bring life back to normal, countries such as Britain, China, Germany, Russia and the United States are racing against time to develop coronavirus vaccines. Enditem