FXStreet (Mumbai) - ZEW's Indicator of Economic Sentiment for the Eurozone rose by 5.6 points to a reading of 33.9 points, increasing from 28.3 in November. The ZEW Indicator of Economic Sentiment for Germany increased for the second consecutive time in December 2015. The index currently stands at 16.1 points after gaining 5.7 points compared to November. The sub-index measuring financial market players' view of the current economic situation in Germany remained unchanged, rising by 0.6 point to 55 points. ZEW President Professor Clemens Fuest noted “confidence is growing that the German economy is sufficiently robust to meet these challenges in the coming year,". He however highlighted the challenges that the economy faces namely –large influx of refugees as well as slowdown in emerging markets which has hurt Germany’s exports. Investors who were disappointed by the ECB’s smaller than expected stimulus package have now become more optimistic about the growth prospects of the German economy. Despite this year’s numerous challenges in the form of the Greek crisis, the Chinese slowdown, the refugee influx as well as increased geopolitical tensions, the German economy has continued its solid growth performance. Private consumption has driven growth to a large extent. In 2016, Germany can be expected to continue to grow at a moderate pace. Low oil prices and the political side effects from the refugee inflow will continue to challenge the economy. For more information, read our latest forex news.