German investor sentiment hits 13-month high in March

Investor sentiment in Germany rose for the fifth consecutive month to reach a 13-month high in March, driven by positive domestic economic data, a survey found on Tuesday.
The widely watched investor confidence index calculated by the ZEW economic institute rose by 1.8 points to 54.8 points in March, its highest level since February 2014, ZEW said in a statement.
"Economic sentiment in Germany remains at a high level. In particular, the continuing positive development of the domestic economy confirms the expectations of the experts," said ZEW president Clemens Fuest.
"At the same time, limited progress is being made with regard to solving the Ukraine conflict and the sovereign debt crisis in Greece. This has a dampening effect on sentiment," Fuest added.
The index fell short of analysts' expectations for a more robust rise to 60.0 points.
For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.
The sub-index measuring financial market players' view of the current economic situation in Germany jumped by 9.6 points to 55.1 points in March, its highest level since July 2014.
A frequent criticism of the ZEW index is that it can be volatile and is therefore not particularly reliable.