Germany's ZEW survey of investment analysts rises to 3-month high, beating expectations

BERLIN – Germany’s ZEW survey of investor optimism rose to a three-month high in June, beating expectations.

The research institute’s closely watched index rose to 38.5 from 36.4 in May. Market analysts had predicted a rise to 38.1.

ZEW President Clemens Fuest said Tuesday that those polled said the German economy would slowly pick up speed in the second half of the year.

But many of those surveyed forecast little improvement Europe’s biggest economy over the next six months.

The index is still below its March level of 48.5.