Trust in the German economy among investors has increased in May to 51 points from the last month's 28.2, as Berlin continues to ease the COVID-19 lockdown restrictions, the Leibniz Centre for European Economic Research (ZEW) said on Tuesday, citing the results of its survey of opinions of economists and analysts
MOSCOW (Pakistan Point News / Sputnik - 19th May, 2020) Trust in the German economy among investors has increased in May to 51 points from the last month's 28.2, as Berlin continues to ease the COVID-19 lockdown restrictions, the Leibniz Centre for European Economic Research (ZEW) said on Tuesday, citing the results of its survey of opinions of economists and analysts.
"In May 2020, the ZEW Indicator of Economic Sentiment for Germany recorded an increase for the second time in a row, and now stands at 51.0 points, 22.8 points higher than in the previous month," the center said in a statement.
The indicator has been growing the second month in a row, recovering from a nosedive it took in March.
"Optimism is growing that there will be an economic turnaround from summer onwards. This is also reflected in the significant improvement in expectations for the individual sectors. According to the financial market experts surveyed, economic growth is expected to pick up pace again in the fourth quarter of 2020," ZEW Director Achim Wambach said, warning that the economy will not return to the 2019 output level until 2022.
Germany, as well as the rest of the world, has seen its economy undermined by the ongoing COVID-19 epidemic, which has caused countries across the globe to adopt severe lockdown measures to halt the spread of the disease, at the cost of the economy.
As a result, Germany's GDP shrunk by 2.2 in the first quarter of 2020, according to the country's Federal Statistical Office.
Back in April, Germany reopened non-essential shops. Further restrictions, including those on playgrounds, museums and churches, were dropped by early May.
