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.
Germany narrowly avoided a recession in the third quarter. Its export-orientated manufacturers have struggled against a backdrop of trade friction, a slowing car industry, and uncertainties over Britain’s planned departure from the EU. 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”.
A separate ZEW gauge measuring investors’ assessment of the economy’s current conditions rose to -19.9 from -24.7 in the previous month. Analysts had forecast a reading of -22.3.
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