BERLIN (Reuters) – Investor sentiment in Germany worsened somewhat in July, the ZEW economic research institute said on Tuesday, adding that experts expected to see modest economic expansion in the second half of this year.
An indicator tracking investors’ economic sentiment slipped to 59.3 points, from 63.4 points the previous month. That compared with a forecast for 60.0 in a Reuters poll of economists.
“The outlook for the German economy largely remains unchanged,” ZEW’s President Achim Wambach said in a statement. “After a very poor second quarter, the experts expect to see a gradual increase in gross domestic product in the second half of the year and in early 2021.”
A separate gauge of current conditions rose slightly to -80.9 points, from -83.1 the previous month – but was well behind the consensus forecast of -65.0 points.
(Reporting by Thomas Escritt; Editing by Michelle Martin)
