BERLIN (Reuters) – German investor morale improved unexpectedly in August, the ZEW economic research institute said on Tuesday, reporting a rise in its economic sentiment index to -12.3 points from -14.7 points in July.
Analysts polled by Reuters had pointed to an August reading of -14.7.
“Financial market experts thus anticipate a slight uptick in the economic situation by year-end,” said ZEW president Achim Wambach.
“However, these heightened expectations need to be viewed in the context of a significantly worsened assessment of the current economic situation in Germany,” he added.
The index measuring the assessment of the current situation in Europe’s largest economy plunged further than expected in August, to -71.3 in August from -59.5 the month before.
Analysts had forecast an August reading of -63.0.
(Reporting by Miranda Murray, Editing by Friederike Heine)
