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