To surpass the 2007 levels when global markets were still soaring higher shows how low confidence was at that time.
- The ZEW Center for European Economic Research said its index of investor and analyst expectations, which aims to predict economic developments six months ahead, increased to 31.1 from 13 in April. Economists expected a jump to 20, according to the median of 35 forecasts in a Bloomberg News survey.
- “It’s another sign that a recession will weaken substantially with a return to economic growth toward year- end,” said Rainer Guntermann, an economist at Dresdner Kleinwort in Frankfurt. “Investor confidence has room to improve further over the coming months.”