German investor sentiment improves despite virus third wave

16
Berlin

German investor sentiment climbed in March despite ongoing coronavirus restrictions in Europe’s top economy, data showed Tuesday.

The ZEW institute’s monthly barometer measuring economic expectations rose 5.4 points month-on-month to a new reading of 76.6 points — more than 20 points higher than in December.

It beat forecasts by analysts polled by Factset, who counted on a score of 75 points.

“Experts expect a broad-based recovery of the German economy,” said ZEW president Achim Wambach, based on hopes that 70 percent of the German population would be vaccinated against Covid-19 by late September.

However he warned that most of those polled for the ZEW survey were expecting “inflation to continue to grow, as well as higher long-term interest rates”.—AFP

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