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German investor morale brightens slightly in August
[BERLIN] The mood among German analysts and investors improved slightly in August, a survey showed on Tuesday, in a further sign that the impact of Britain's decision to leave the European Union on Europe's biggest economy could be limited.
Mannheim-based ZEW said its monthly survey showed a rise in its economic sentiment index to 0.5 points in August after a fall to -6.8 the previous month. However, that was still weaker than the Reuters consensus forecast for a reading of 1.8.
A separate gauge of current conditions jumped to 57.6 points from 49.8 in July. This was better than the Reuters consensus forecast which predicted a reading of 50.0.
"The ZEW economic sentiment is recovering somewhat from the Brexit shock," ZEW President Achim Wambach said in a statement.
"Political risks within and outside the European Union, however, continue to inhibit a more optimistic economic outlook for Germany."
The ZEW index was based on a survey of 214 analysts and investors conducted between July 29 and August 15.