German investor sentiment rises in March

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FRANKFURT: Investor confidence in Germany rose slightly in March but uncertainty about emerging economies, oil prices and the strength of the euro still warrant caution, a leading survey showed on Tuesday.

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The investor confidence index calculated by the ZEW economic institute increased by 3.3 points to 4.3 points in March, the think tank said in a statement.

Analysts had projected a slightly stronger rise in the index to more than 5.0 points this month.

“The uncertainty associated with the future economic development of important emerging economies, with the development of the oil price and with the external value of the euro continues to call for caution,” said ZEW’s head of international finance and financial management, Sascha Steffen.

“Apparently, the renewed move of the European Central Bank to considerably ease its monetary policy has not had a substantial effect on economic sentiment,” Steffen added, referring to the ECB’s recent decision to cut its key interest rates and expand its asset purchase programme known as QE.

For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.

The sub-index measuring financial market players’ view of the current economic situation in Germany fell by 1.6 points to 50.7 points in March, ZEW said

AFP

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