German Investor Morale Rises

The mood among German investors improved further in May to reach its highest since July 2015, a survey showed on Tuesday, in a further sign that political uncertainties which have clouded the growth outlook for Europe’s biggest economy are evaporating, Reuters reported. The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index rose to 20.6 from 19.5 points in the previous month. The Reuters consensus forecast was for a rise to 22.0. A separate gauge measuring investors’ assessment of the economy’s current conditions rose to 83.9 points from 80.1 in April. This compared with the Reuters consensus forecast which predicted a reading of 82.0. “The German economy is in good shape,” ZEW President Achim Wambach said in a statement. “The prospects for the eurozone as a whole are gradually improving, further strengthening the economic environment for German exports.”