German Investor Confidence Hits High

Berlin, German investor confidence hit a seventh-month high in January despite Europe’s biggest economy facing a host of global uncertainties this year, including key national elections and the spectre of Britain departing the EU.

The Centre for European Economic Research (ZEW) said Tuesday that its closely watched indicator showed that confidence among analysts and institutional investors in Germany rose to 16.6 points this month, from a December reading of 13.8.

But the rise was less than forecast, with economists having expected the indicator to climb to a reading of 18.4 points this month, dpa reported.

“The slight increase in the ZEW indicator is mainly due to the improved economic situation across European countries,” said ZEW chief Achim Wambach.

“This improvement in expectations can thus also be seen as a leap of faith for 2017,” he said.

Data released week by the Federal statistics Office (Destatis) showed German economic growth coming in at the top end of analysts’ forecasts last year, to expand by 1.9 per cent.

Source: Qatar News Agency