An indicator of economic sentiment jumped to 48.4 in January from 34.9 in December, according to figures released yesterday by German researchers Zew. The index now sits comfortably above its long-term average of 24.5.
It has recovered from a 2014 trough of below zero in October but remains below its 2014 peak of 61.7 achieved in January.
“The new year started with turmoil in the capital markets. News of the upcoming parliamentary elections in Greece and the Swiss National Bank’s decision to abandon the euro cap on the franc’s value have led to strong stock market fluctuations,” said Zew president professor Clemens Fuest. “However, this seems not to have impressed Zew’s financial market experts.”