Investor Confidence Rises for 8th Month in Germany - Exceeds Forecast

Investor confidence has risen to a 3 year high in Germany, following signs the the downturn may be easing.

The Mannheim-based Centre for European Economic Research (ZEW) said its monthly measure of the mood of institutional investors and analysts jumped to 44.8 points in June - compared to 31.1 points in May. This is the eighth consecutive monthly rise, and far bigger than experts had forecast.

'The assessment of the experts indicates that the economic downturn dynamics are currently coming to rest,' said ZEW chief Wolfgang Franz.

'They further see tendencies for a recovery at the end of this year,' he said. 'This cautious optimism should not be destroyed by overly-pessimistic projections.'

This rise in confidence is surprising given the recent stream of bleak economic data for Germany.