German business confidence rises at prospect of vaccine approval

ZEW survey released on Tuesday showed that the possibility that approval of a vaccine is imminent has prompted a rise in business confidence among German investors.

The Leibniz Centre for European Economic Research in Mannheim said the index rose by 16 points to reach 55 in December compared to November, adding that analysts had expected a rise to 46 points.

ZEW president Achim Wambach said in a statement “the announcement that vaccine approval is imminent allows financial market experts to look to the future with more confidence.’’

Investors’ take on the current economic situation is more subdued, however. The indicator fell by 2.2 points to reach 66.5. (dpa/)

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