German economic sentiment index soared, reaching the highest level in almost three years.

German economic sentiment index soared, reaching the highest level in almost three years.

Confidence in the German economy. York. Higher than expected, reaching the highest since May. Was 0.2553. Due to the more positive view that the German economy is the largest in Europe will be able to withstand and recover the debt crisis in the region.

European Economic Research, or ZEW, which is located in Germany revealed that the confidence of investors and analysts in Germany, with the economy in the next six months. Risen to 31.5 in January. York. From 6.9 in December. York., Which is the second month in a row that the index is in positive territory. And higher than most economists expected. The index rose in January to reach level 12. York.

Index in the current economic climate. York. Rises to 7.1 from 5.7 in December. York.

The previous week. German government has cut its growth forecast for the year 2556 to a level of 0.4% and 1% after the data indicate a significant slowdown of the German economy in the past year. The Office for National Statistics estimates that Germany's economy may contract by up to 0.5% in the last quarter of 2555.

However, given that Germany's central bank yesterday. There are signs that the economy began to recover. However, according to Business sentiment rose for the second consecutive month in December. York. The industry's growth has come back again. The European Central Bank (ECB) forecast that the eurozone economy. The main export markets of Germany. To break away from a recession this year.