German ZEW current situation improves dramatically in Dec

The German business morale steadied in December, showing no further improvement from last, a ZEW survey revealed on Tuesday.

The headline ZEW economic sentiment remained unchanged at 13.8, same as seen in November, however, missed markets’ expectations of an increase to 14.0 points.

While the current conditions sub-indicator rose sharply to 63.5, as compared to November’s 58.8, way beyond expectations of a 59.1 reading.