German investor sentiment jumped to its highest level in two decades in May on hopes that consumers will send growth soaring once Europe’s biggest economy finally reopens shops, bars and restaurants.
The ZEW institute’s monthly barometer measuring economic expectations rose 13.7 points in May to 84.4, its highest reading since 2000 and by far the highest since the beginning of the pandemic, data showed on Tuesday.
“The slowing down of the third COVID-19 wave has made financial market experts even more optimistic,” said ZEW president Achim Wambach in a statement. “The experts expect a significant economic upswing in the coming six months,” he added.