German investor confidence rose to the highest level in more than four years, signaling that the economic recovery in Europe’s largest economy remains on track even after a third-quarter slowdown.
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 in advance, climbed for a fourth month to 54.6 in November. That’s the strongest reading since October 2009 and up from 52.8 the prior month. Economists predicted an increase to 54, according to the median of 40 estimates in a Bloomberg News survey.
The Bundesbank said yesterday that the German economy remains on a “solid growth path,” even after the expansion slowed to 0.3 percent in the third quarter and business confidence unexpectedly dropped in October. Factory orders rose more than economists predicted in September and unemployment remained near a two-decade low in October.
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