German investor sentiment surges to highest in nearly two years

German investor sentiment surges to highest in nearly two years

11.12.2019

German investor sentiment surges to highest in nearly two years

The ZEW research institute’s index found sentiment about the economy had shot up to 10.7 from -2.1 in November

Berlin — The mood among German investors turned positive in December, a survey showed on Tuesday, with an unexpected rise in October exports boosting hope for an upturn in Europe’s biggest economy.

The reading exceeded even the highest forecast of economists, which showed a consensus prediction of zero.

ZEW president Achim Wambach said the rise in morale “rests on the hope that German exports and private consumption will develop better than previously thought. This hope results from a higher-than-expected German foreign trade surplus in October, alongside relatively robust economic growth in the EU in the third quarter, and a stable German labour market”.

“The message is: the economy has bottomed out, without it pointing to a dynamic recovery,” said Thomas Gitzel, economist at VP Bank.

Read more: Business Day

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