German investor morale stabilises in September, ZEW finds
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The skyline of the banking district is seen during sunset in Frankfurt, Germany, April 21, 2024. REUTERS/Kai Pfaffenbach
By Maria Martinez
BERLIN, Sept 15 (Reuters) - German investor morale stabilised in September, while the assessment of the current economic situation improved significantly.
Investor morale rose less than expected to 34.7 points in September, the ZEW economic institute said on Tuesday.
Analysts polled by Reuters had expected the reading to rise to 40.0 points from 34.2 points a month earlier.
"The ZEW indicator of economic sentiment remains stable," said ZEW president Achim Wambach. "Experts are cautiously optimistic about a recovery of the economy."
The indicator for the current economic situation rose to minus 47.1 points, from minus 61.1 in the previous month.
Growth continues to be driven by fiscal measures and is further bolstered by export momentum, Wambach said.
However, he warned that the risks are considerable.
"Persistent high energy prices resulting from a continued war in Iran and the additional uncertainty caused by hybrid attacks place a burden on the economy," Wambach said.
(Reporting by Linda Pasquini and Maria Martinez, Editing by Friederike Heine and Miranda Murray)
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