German investor morale picks up slightly in June

FRANKFURT, June 14 (AFP): Confidence among German investors picked up for the second month in a row in June but remains subdued, a closely-watched survey found Tuesday, as the Ukraine war and global supply snarls cloud the economic outlook.
The ZEW institute's economic expectations index climbed 6.3 points to minus 28 points compared with May, but it is still well below pre-pandemic levels.
The indicator experienced its sharpest ever drop in March, plunging by 93.6 points, in the wake of Russia's invasion of Ukraine.
"Financial market experts are less pessimistic about the economy," ZEW president Achim Wambach said in a statement.
"However, the economy is still exposed to numerous risks, such as the effects of the sanctions against Russia, the unclear pandemic situation in China and the gradual change of course in monetary policy.
"So although expectations have improved, they are still deep in negative territory," he said.
The June survey reading was in line with analyst expectations.