The indicator of economic sentiment for Germany increased by a remarkable record of 22.9 points in December, boosted by strong investment and export prospects, the Center for European Economic Research (ZEW) said Tuesday.

Compared with 38.7 points in November, the indicator's current level of 61.6 points is far above its historical average of 34.5 points, the Mannheim-based institute said.

"An important contributor to optimism is German companies' increased investment confidence which is reflected, among other things, in the increasing domestic order intake reported by suppliers of investment goods," the center said.

Due to the euro-dollar exchange rate and the broad dynamics of the world economy, export prospects for the next six months are positive too, ZEW added.

Compared to previous surveys, uncertainty about Germany's future economic policy is no longer an issue of dispute.

"The willingness to invest, an important pillar of domestic demand, seems to have revived," ZEW said.

Economic expectations for the euro zone have also improved in December. The indicator gained 11.2 points from last month to 51.2 points.

The survey was conducted with the participation of 317 analysts and institutional investors.

The indicator shows the balance between positive and negative expectations regarding future economic activities in Germany within a timeframe of six months.

Source: Xinhua