BERLIN (Reuters – German investors sentiment rose in May, based on the expectation that a decline in Europe’s biggest economy would be more gradual than originally expected.

According to the ZEW economic research center, its economic sentiment index rose by -34.3 points in May from -41.0. A Reuters poll indicated a reading of -42.0 in May.

Achim Wambach of ZEW stated that investors continue to expect a decline in the economy but with a lesser intensity.

The index of current conditions dropped to -36.5, from -30.8. A consensus prediction was that the reading would be -35.0