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German investor sentiment picks up in August

BERLIN, Aug 11 – Investor sentiment in Germany improved more than expected in August, the ZEW economic research institute said on Tuesday, cautioning, however, that experts see current conditions improving only slowly.

The survey of investors’ economic sentiment rose to 71.5 from 59.3 points the previous month, far exceeding a forecast for 58.0 in a Reuters poll of economists.

“Hopes for a speedy economic recovery have continued to grow, but the assessment of the situation is improving only slowly,” said ZEW President Achim Wambach, adding the situation varied from sector to sector.

A separate gauge of current conditions dropped to -81.3 points from -80.9 the previous month. That compared with a consensus forecast of -68.8 points. (Reporting by Madeline Chambers Editing by Michelle Martin)

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