German investor confidence leaps on reopening hopes

18 February, 2021 12:00 AM printer

BERLIN: German investor sentiment jumped in January amid growing confidence Europe’s top economy will bounce back from the brutal blow of the coronavirus pandemic, data showed Tuesday.

The ZEW institute’s monthly barometer measuring economic expectations in Europe’s largest economy rose 9.4 points to a new reading of 71.2 points in January, reports AFP.

It was the highest score since September, before the second wave of the pandemic hit.

The financial market experts polled “are optimistic about the future” and “confident that the German economy will be back on the growth track within the next six months”, ZEW president Achim Wambach said in a statement. In December, Germany tightened restrictions to curb the spread of the virus, closing most shops after a previous shutdown closed restaurants, bars, gyms and cultural activities.