German economic confidence reached its highest level in more than two decades in May as the slowing down of the third COVID-19 wave made financial market experts more optimistic, survey data from the ZEW - Leibniz Centre for European Economic Research showed Tuesday.
The ZEW Indicator of Economic Sentiment rose sharply to 84.4 in May from 70.7 in April. The last time the indicator had reached a higher level was in February 2000. The score was forecast to climb to 72.0.
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