In the Euro zone German investor confidence jumped in April as falling unemployment and a weaker Euro improved the economic outlook.
The Mannheim-based ZEW Center for European Economic Research said its index of investor and analyst expectations rose to 53 from 44.5 in March. It was the first increase in seven months. Economists had predicted a gain to 45.1.
Germany’s share index has risen 3% in the past month as economic growth, which stalled during the coldest winter in 14 years, resumed. That’s outweighing concern about Greece’s fiscal crisis, which has failed to recede even after European finance ministers and the International Monetary Fund agreed on a 45 billion Euro ($61 billion) aid package for the cash-strapped nation.
The all-European figure also rose unexpectedly – it surged from 37.9 to 46 points. A figure of 38.9 was expected. The German figure is considered more accurate, however this data contributed to yesterday's rise by the Euro.
The single currency gained on the US Dollar for the second day, it appreciated 0.37% to close at EUR 1.34353.
The Mannheim-based ZEW Center for European Economic Research said its index of investor and analyst expectations rose to 53 from 44.5 in March. It was the first increase in seven months. Economists had predicted a gain to 45.1.
Germany’s share index has risen 3% in the past month as economic growth, which stalled during the coldest winter in 14 years, resumed. That’s outweighing concern about Greece’s fiscal crisis, which has failed to recede even after European finance ministers and the International Monetary Fund agreed on a 45 billion Euro ($61 billion) aid package for the cash-strapped nation.
The all-European figure also rose unexpectedly – it surged from 37.9 to 46 points. A figure of 38.9 was expected. The German figure is considered more accurate, however this data contributed to yesterday's rise by the Euro.
The single currency gained on the US Dollar for the second day, it appreciated 0.37% to close at EUR 1.34353.