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German investor confidence jumps in April

BERLIN - German investor confidence has surged in April, as financial experts saw continued recovery from the country’s worst post-war recession, the ZEW economic research institute said Tuesday.

The closely watched financial sector indicator leapt eight points to 53.0 points on the back of strong exports, a score even stronger than the 46 points forecast by analysts. The improvement stopped a slide over six consecutive months.

“The German economy is being driven strongly by exports,” the traditional engine of growth in Europe’s biggest economy, ZEW president Wolfgang Franz said.

“They are necessary to stabilise the upturn in the economy.”

In its measure of the current situation, ZEW said an assessment by investors has jumped higher by 12.7 points in April to minus 39.2 points, the 11^th rise in a row.

The ZEW indicator is published each month based on a poll among 300 analysts and institutional investors.

In March, the indicator had been stable, dipping only slightly to 44.5 points as good news on the industrial order front appeared to have offset concern over the Greek debt crisis.