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German investor confidence recovers after drop

Created: 11/18/2014 6:52 AM
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BERLIN (AP) — A closely-watched survey shows German investors' confidence in the economy has recovered somewhat following a 10-month decline.

The ZEW institute said Tuesday its index rose by 15.1 points in November, bringing it back into positive territory for an overall reading of 11.5.

That's still far below its long-term average of 24.4 points, but ZEW head Clemens Fuerst said it's a good sign.

He says "the recent growth figures for the euro area suggest that the economy is stabilizing," which helped restore confidence.

But he warns "the economic environment remains fragile, not least due to ongoing geopolitical tensions."

The survey of 220 analysts showed that while expectations for the future improved, views of Germany's current situation were largely unchanged.

Germany posted 0.1 percent third-quarter growth, avoiding recession after a second-quarter contraction.

(Copyright 2014 by The Associated Press. All Rights Reserved.)

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