Confidence among investors in Germany soared to its highest level in almost 17 years in August, as Europe's largest economy accelerates its rebound from the crushing impact of the coronavirus pandemic.
Analysts had predicted a small fall in investor confidence from 59.3 to 58.0, according to a survey by FactSet.in the 2nd quarter compared with the first 3 months of 2020, there was a healthy uptick in industrial production and exports in June, according to figures released last week. Domestic sectors should expect to recover, Wambach said, but in a note of caution, he added:"The still very poor earnings expectations for the banking sector and insurers regarding the coming 6 months give cause for concern."
The survey by Mannheim-based ZEW crashed to its lowest rating since the financial crisis in March as pandemic lockdowns first started to impact the economy.
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