German Market Sentiment Unexpectedly Rises Before U.K. Vote
- ZEW expectations index climbs to 19.2 in June from 6.4
- Britons vote in June 23 referendum whether to stay in EU
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German investor confidence unexpectedly improved in June after polls on Britain’s future in the European Union showed the ‘Remain’ camp gaining ground.
The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months ahead, rose to 19.2 from 6.4 in May. That’s the highest level since August last year. Economists in a Bloomberg survey predicted a drop to 4.8.