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German Investor Morale Surges as Third COVID-19 Wave Eases

BERLIN, May 11 (Reuters) - Investor sentiment in Germany surged in May thanks to a third wave of the COVID-19 pandemic tailing off, a survey showed on Tuesday, pointing to a significant upswing in Europe’s largest economy in the coming six months.

The ZEW economic research institute said its survey of investors’ economic sentiment rose to 84.4 points from 70.7 in the previous month. A Reuters poll had forecast a rise to 72.0.

“The slowing down of the third COVID-19 wave has made financial market experts even more optimistic,” ZEW President Achim Wambach said in a statement.

“The experts expect a significant economic upswing in the coming six months,” he added.

Health Minister Jens Spahn said last Friday the third wave of the coronavirus pandemic appeared to be broken in Germany.

A separate ZEW gauge of current conditions rose to -40.1 points from -48.8 the previous month. That compared with a consensus forecast for -41.3 points.

Writing by Paul Carrel Editing by Riham Alkousaa

Source: Reuters

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