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German investor confidence jumps slightly in May on expectations the economic situation in Europe’s largest economy will weaken less significantly than earlier estimated.
Source: ZEW
DAX up +1.36%, EURUSD down -0.02%
The ZEW economic research institute stated its economic sentiment index increased to -34.3 points from -41.0 in April.
Achim Wambach ZEW President stated that the experts still assume that the economy will continue to weaken, but at a slower rate than expected before.
Wambach further stated that COVID-19 restrictions in China pushed investors to take a dimmer outlook of the economic situation, and the situation affected the future development of Germany’s economy.
A ZEW index for current conditions plunged to -36.5 from -30.8. The consensus estimate was a reading of -35.0.
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