By Nina Adam
FRANKFURT--German economic sentiment rose further in November, pointing to a pickup in economic growth over the next six months, according to a survey by Germany's ZEW think tank.
The election of Donald Trump as next U.S. president, however, curbed analysts' optimism. "The survey responses coming in after the U.S. election were clearly more pessimistic," said Jesper Riedler, who compiles the monthly ZEW survey. About two-thirds of the responses came in after the U.S. election.
The ZEW said Tuesday that its measure of economic expectations rose for the fourth straight month, to 13.8 points in November from 6.2 points in October. The outcome was better-than-expected, but below the indicator's long-term average of 24.0 points.
The latest increase was "not least due to the positive economic figures seen in the U.S. and China," said ZEW President Achim Wambach.
The ZEW survey reflects the assessment of financial analysts and institutional investors, while many economists prefer to look at business surveys--such as the purchasing managers' index--to gauge the underlying strength of Europe's largest economy.
By Nina Adam at email@example.com
(END) Dow Jones Newswires
November 15, 2016 06:03 ET (11:03 GMT)
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