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German ZEW Investor Confidence Rises More-than-expected In June

Germany's investor confidence rose more-than-expected in June, after remaining largely unchanged in the previous month, results of a survey by the Mannheim-based Centre for European Economic Research/ZEW showed on Tuesday.

The ZEW Indicator of Economic Sentiment climbed to 38.5 from 36.4 in May. Economists were looking for a score of 38.1. The latest reading is the highest since March.

Meanwhile, the current conditions measure dropped to 8.6 from 8.9. The index was expected to rise to 9.5.

"The financial experts stick to their assessment: the German economy is likely to pick up speed in the second half of 2013," ZEW President Clemens Fuest said.

"However, the results of the current survey indicate that the economy will improve rather slowly."

Nearly half of the survey respondents expect no significant economic impulses in the next six months, Fuest added.

The economic sentiment index for Eurozone climbed three points to 30.6 in June. The current conditions index for the currency bloc, however, shed 2.7 points to reach -79.5.

by RTT Staff Writer

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