German investor morale improves on hopes for economic turnaround - ZEW

German investor sentiment improved much more than expected in May as concerns about the impact of the coronavirus pandemic on Europe's largest economy eased and hopes for a slow recovery in second half of the year grew, a survey showed on Tuesday. The ZEW research institute said its monthly survey showed economic sentiment among investors rose to 51.0 from 28.2 in April. Economists had expected a reading of 32.0.

"Optimism is growing that there will be an economic turnaround from summer onwards," ZEW President Achim Wambach said in a statement. A separate gauge measuring investors' assessment of the economy's current conditions edged down to -93.5 from -91.5 in the previous month. Analysts had forecast a reading of -88.0.