Plus   Neg

German ZEW Investor Confidence Improves To 5-month High In February

Germany's investor confidence improved further to its highest level in five months in February, survey data from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.

The ZEW Indicator of Economic Sentiment for Germany rose to -13.4 points from -15.0 points in January. Economists had forecast a score of -13.7.

The latest reading marked the highest since September, when the score was -10.6.

The current conditions index fell sharply to 15 from 27.6. Economists were looking for a reading of 21.0.

"At the moment, we do not expect a rapid recovery of the slowing German economy," ZEW President Professor Achim Wambach said.

The economic situation in Germany has been weak, with industrial production recording a notable decline, incoming orders being stagnant and foreign trade providing no fresh impulses, he told.

"All of this is reflected in the fact that the assessment of the current situation has experienced a considerable decline. For the next six months, the financial market experts in our survey do not expect any improvement," he added.

The ZEW investor confidence measure for Eurozone rose by 4.3 points to -16.6. The current conditions index, meanwhile, fell 8.3 points to -3.0.

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