By Maria Martinez
German economic expectations have risen strongly in March, beating forecasts, the ZEW economic research institute said Tuesday.
The measure of economic expectations rose to 76.6 in March from 71.2 in February, the institute said. The outcome beats economists' forecast of 74.0 points, taken from a survey by The Wall Street Journal.
"Economic optimism continues to rise. Experts expect a broad-based recovery of the German economy," Achim Wambach, president of the ZEW institute, said.
Mr. Wambach said financial experts expect that at least 70% of the German population will be offered a vaccine by fall.
The assessment of the current economic situation in Germany also improved to minus 61.0 in March from minus 67.2 in February, the ZEW institute said. The reading compares with economists' forecast of minus 61.5 points.
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(END) Dow Jones Newswires