German ZEW index jumps more than expected

LONDON (MarketWatch)
The ZEW economic-expectations index, a gauge of German investor sentiment, rose more sharply than expected in January, the Mannheim-based Center for European Economic Research, or ZEW, reported Tuesday
The indicator for economic sentiment in Germany jumped by 24.6 points to stand at 31.5, reaching the highest level since May 2010
Economists had forecast a reading of 9.5
The data marked the second month in a row that German sentiment improved notably, after unexpectedly jumping out of negative territory in December
"The financial-market experts seem to expect that the positive sentiment on the financial markets may soon result in companies realizing investments that had been postponed earlier on," said ZEW President Wolfgang Franz
"However, the economic situation of important trade partners is rightly considered to still be weak
This suggests that the German economy will further grow at a moderate level in 2013," he added