A survey shows that investor confidence in Germany, Europe's biggest economy, has risen to its highest level in a year though the increase was a little short of expectations amid concerns over Ukraine and Greece.
The ZEW institute said Tuesday its monthly confidence index, which measures investors' economic outlook for the next six months, rose to 53 points for February from 48.4 last month — the fourth consecutive increase. Economists had predicted a rise to 55 points.
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ZEW president Clemens Fuest said the European Central Bank's decision to start buying government bonds with newly printed money improved sentiment along with robust fourth-quarter German economic growth.
All the same, he said that "the intensification of the Ukraine crisis and the collision course of the new Greek government are dampening expectations."