Urgent - The ZEW Economic Confidence Index in Germany and the Eurozone has improved this month.

On Tuesday, the German ZEW Institute released data on the economic sentiment indicators for Germany and the Eurozone for the month of September, which turned out to be positive and better than market expectations. According to the data, the ZEW economic sentiment index for Germany rose to 13.1 points, which was higher than market expectations that indicated an increase to 10.2 points in September. Additionally, the new reading showed improvement compared to the previous one, as the index had recorded an increase to 3.6 points in July. At the same time, the ZEW economic sentiment index for the Eurozone improved to 20.1 points in September, significantly better than market expectations that forecasted growth to 16.9 points. The previous reading of the index had shown an increase of 9.3 points in July. The ZEW economic sentiment index for Germany and Europe is based on a survey of approximately 275 investment firms and German economic analysts, who are able to determine the relative economic expectations for the next six months for all of Europe and Germany. Therefore, this index serves as an early indicator of the future economic activity.