Economic sentiment in the eurozone improved in December to its highest level since August, helped by the European Central Bank's ultra-loose policy, survey data released on Monday showed. Sentix research group's index tracking morale among investors and analysts in the euro zone rose to 15.7 in December from 15.1 in November. The reading was the second consecutive monthly rise.
It fell short, however, of the consensus forecast in a Reuters poll for a reading of 17.0. "While the economic picture in all regions of the world has worsened slightly, the euro zone is the exception to the rule," said Sentix in a statement.
"The ECB has likely contributed to this. Although it barely delivered anything that can be counted in the short term, it repeated its "whatever it takes" message," added Sentix. The ECB eased policy further on December 3, cutting its deposit rate deeper into negative territory, and extended its asset buys by six months in widely anticipated moves which disappointed high market expectations for more. The Sentix survey of 1,052 investors was conducted between December 3 and December 5.
A sub-index of expectations for the euro zone economy climbed to 18.0 from 14.3 in November, also the highest level since August. However, investors' assessment of the current situation deteriorated to 13.5 from 16.0 in November. An index tracking Germany, Europe's biggest economy, improved to 22.7 from 20.1.
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