Germany ZEW Economic Sentiment Strengthens In August

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Germany's economic sentiment rose 16.6 points to 56.1 in August, a monthly survey from ZEW Center for European Economic Research showed Tuesday. The expected reading was 45. The indicator stood well above the historical average of 26.5 points.

The assessment of the current economic situation stood at minus 77.2 in August, up 12.1 points. Economists were expecting the index to rise to minus 85.

President Wolfgang Franz said, "The German economy develops parallel to the world economy and should, hence, recover only gradually."

The economic expectations for the euro zone moved up 15.4 points to 54.9 points. Meanwhile, current economic situation improved to minus 82.1 points.

Germany's economic sentiment rose 16.6 points to 56.1 in August, a monthly survey from ZEW Center for European Economic Research showed Tuesday. (Market News Provided by RTTNews)