Investor sentiment in Germany has reached a 12-month high. The new enthusiasm was driven by the European Central Bank's latest policy moves and better-than-expected economic data, a survey has found.
The ZEW economic institute's widely-watched investor confidence index rose by 4.6 points to 53.0 points in February, its highest level in 12 months, ZEW said Tuesday.
The February reading was slightly lower than some analysts' forecasts suggesting the indicator would rise to 55 points.
"Quantitative easing by the European Central Bank and unexpectedly high economic growth in the fourth quarter of 2014 have improved sentiment among financial market experts," said ZEW President Clemens Fuest.
"On the other hand, the intensification of the Ukraine crisis and the collision course of the new Greek government are dampening expectations," Fuest warned.
Boosted by inflation
Last month, the ECB announced a massive bond-buying program, known as quantitative easing, in a bid to lift inflation in the 19 countries that share the euro.
The survey is the result of interviews by ZEW with analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.
bk/cjc (AFP, dpa)