BERLIN (Reuters) - German investor morale improved more than expected in May thanks to a positive economic performance at the start of the year, the ZEW economic research institute said on Tuesday.
The economic sentiment index rose to 47.1 points from 42.9 points in April.
Analysts polled by Reuters had pointed to a May reading of 46.0.
"Following the stronger-than-expected growth of the German economy in the first quarter of 2024, both the assessment of the current situation and economic expectations have become more favourable," said ZEW president Achim Wambach.
The assessment of the economic situation in Germany rose to minus 72.3 points from minus 79.2 in the previous month.
(Reporting by Maria Martinez, writing by Rachel More, editing by Andrey Sychev and Madeline Chambers)
