Sentiment among German investors about the outlook for Europe's largest economy improved in May, the latest survey by the ZEW economic research institute showed today.
The think tank said its economic sentiment indicator, based on a survey of 301 analysts and institutional investors, rose to 24.0 this month from 16.5 in April.
'The economic upswing in Germany seems to be hardly influenced by the VAT increase and the economic downturn in the US,' ZEW President Wolfgang Franz said in a statement, referring to a three-point VAT rise earlier this year.
'Increasing employment rates in all economic sectors and a good investment climate put the upswing on a sustainable growth path,' he added.
A separate gauge of current conditions for Germany advanced to 88 from 76.9 in April. The consensus forecast was for a reading of 79.
A measure of expectations for the euro region rose to 22.3 in May from 10.7 the previous month, the ZEW said.
Story from RTÉ Business : http://www.rte.ie/business/2007/0522/Germany.html
links: Centre for European Economic Research
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