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German investor confidence hits 7-year high

English.news.cn   2013-12-17 22:05:21            

BERLIN, Dec. 17 (Xinhua) -- Investor confidence in the German economy in December rose to its highest level in more than seven years, a survey found on Tuesday.

The Mannheim-based Center for European Economic Research (ZEW) said its indicator for German economic outlook for the next six months surged to 62 points, the highest since April 2006.

The 252 surveyed market analysts were also more optimistic about the current German economy. The corresponding indicator stood at 32.4 points, 3.7 points higher than in the previous month.

"With respect to 2014, the surveyed financial market experts are quite optimistic. Despite rather disappointing economic data released recently, the financial market experts expect economic development in Germany and the eurozone to improve further in 2014," said ZEW president Clemens Fuest.

The German economy was expected to grow by 1.7 percent in the coming year, following a 0.5-percent of expansion in the current one.

"Investment would be another driving engine (besides private consumption) of German economy," said Marcus Kappler, an expert in ZEW.

With reducing uncertainty in the EU and world economy and a historically low interest rate, investment in Germany is expected to increase significantly in the coming year, he said.

Editor: Tang Danlu
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