Germany investor morale strengthens in April - ZEW

16th Apr 2024 08:28

(Sharecast News) - Investor morale in Germany improved by more than expected this month, a closely-watched survey showed on Tuesday.

The latest ZEW Indicator of Economic Sentiment came in at 42.9, a rise of 11.2 points on March and well ahead of analyst expectations, for 35.1.

The assessment of the current situation in Europe's biggest economy also edged higher, by 1.3 points to -79.2. Analysts had been expecting a reading closer to -76, however.

Across the Eurozone, the ZEW Indicator of Economic Sentiment rose by 10.4 points to 43.9 in April, the highest since February 2022 and also above market expectations.

Achim Wambach, president of the ZEW economic institute, said: "A recovering global economy is boosting expectations for Germany, with half of respondents anticipating the country's economy to pick up over the next six months.

"Further contributing to the heightened optimism are the much-improved assessments of the situation and economic expectations in Germany's export destinations."

Germany's manufacturing-reliant economy has been hit hard by surging inflation and energy costs, rising interest rates and weaker global demand.