German investors shrug off Brexit fears: ZEW institute

21st June 2016, Comments 0 comments

Investor confidence in Germany jumped to the highest level in nine months in June, as Europe's biggest economy remains resilient even in face of a possible exit by Britain from the European Union, a leading survey showed on Tuesday.

The investor confidence index calculated by the ZEW economic institute jumped by 12.8 points to 19.2 points in June, its highest level since September 2015, the think tank said in a statement.

"The improvement of economic sentiment indicates that the financial market experts have confidence in the resilience of the German economy," said ZEW president Achim Wambach.

"However, general economic conditions remain challenging. Apart from the weak global economic dynamics, it is mainly the EU referendum in Great Britain which causes uncertainty," Wambach said.

Britain goes to the polls on Thursday to decide whether to remain in the European Union.

For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.

The sub-index measuring financial market players' view of the current economic situation in Germany increased by 1.4 points to 54.5 points in June, ZEW said.

© 2016 AFP

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