German investor confidence up despite concern over UK vote

AP News
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Posted: Apr 19, 2016 7:00 AM

FRANKFURT, Germany (AP) — A survey of investment analysts shows confidence rose in the German economy thanks to somewhat better economic news out of China.

The ZEW index rose to 11.2 points in April, up from 4.3 in March. Optimism increased despite fears about a possible British exit from the European Union after a June 23 referendum.

The index, based on a survey of 225 financial experts, remains below its long-term average of 24.5 points.

Sascha Steffen of the ZEW institute said Tuesday that despite better news from China, "continued poor growth" there remains a burden for German exports — while the possibility of Britain leaving the EU "seems to be having a negative impact."

Germany, the biggest economy in the 19-country eurozone, grew a moderate 0.3 percent in the fourth quarter of 2015.