German Investor confidence Unexpectedly Rises
The German ZEW survey improved for the fifth month as the index rose to -3.5 from -5.8 in February amid expectations for an drop to -8.0. Despite the unexpected rise in sentiment, the current economic assessment amongst investors weakened further as the index slipped to -89.4 from -86.2, which continues reflect a dour outlook for Europe’s largest economy. Furthermore, investor confidence in the Euro-Zone also increased to -6.5 from -8.7 in the previous month. The data suggests that investors are becoming less pessimistic towards the economy as a result of the extraordinary efforts taken on by the ECB, but as the financial markets remain under pressure with trade conditions deteriorating, the outlook for future growth remains bleak.