German investor morale falls but strong recovery still expected
BERLIN, June 8 (Reuters) – Investor sentiment in Germany fell in June but remained at a high level and expectations for a strong economic recovery for the next six months are intact, a survey showed on Tuesday.
The ZEW economic research institute said its survey of investors’ economic sentiment fell to 79.8 points from 84.4 in the previous month. A Reuters poll had forecast a rise to 86.0.
A separate ZEW gauge of current conditions surged to -9.1 points from -40.1 the previous month. That compared with a consensus forecast for -27.8 points.
“The economic recovery is progressing,” ZEW President Achim Wambach said in a statement. “The decline in expectations is probably largely due to the considerably better assessment of the economic situation, which is now back at pre-crisis levels.”
“The financial market experts therefore continue to expect a strong economic recovery for the next six months,” Wambach added.
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