German investor sentiment turned positive for the first time since Russia’s invasion of Ukraine in January, in a further sign that the downturn in Europe’s biggest economy may not be as sharp as feared.
The ZEW Institute’s indicator of investors’ expectations of the outlook for the coming six months, a closely watched measure of economic confidence, rose for the fourth successive month to 16.9, from minus 23.3 in December. The reading was well above the minus 15 forecast in a Reuters poll of economists.
“The more favourable situation on the energy markets and the federal government’s energy price brakes have contributed to [the improved reading],” said Achim Wambach, president of the Mannheim-based research institute.
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