German investor morale improves as broad recovery is expected

BERLIN, March 16 (Reuters) – Investor confidence in Germany rose more than expected in March, economic research institute ZEW said on Tuesday, encouraging prospects for a widespread recovery in Europe’s largest economy.

ZEW said its survey of investor economic sentiment reached 76.6 points from 71.2 the previous month. A Reuters poll had indicated an increase to 74.0.

ZEW interviewed 189 analysts during the period March 8-15 for its investigation. On Monday March 15, Germany announced that it had suspended the use of AstraZeneca’s COVID-19 vaccine.

“Economic optimism continues to rise. Experts expect a widespread recovery in the German economy,” ZEW chairman Achim Wambach said in a statement.

“They predict that at least 70% of the German population will be offered a vaccine against Covid-19 by the fall. However, a large majority also expect inflation to continue to rise, as well. than higher long-term interest rates. “

A gauge separate from current conditions reached -61.0 points compared to -67.2 the previous month. This compares to a consensus forecast of -62.0 points.

(Written by Paul Carrel Editing by Riham Alkousaa)

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