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ZEW: German economic sentiment improves in August

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ZEW: German economic sentiment improves in August

Germany's economic sentiment improved in August as trade tensions between the EU and the U.S. eased, though the indicator remains in the negative territory.

The ZEW indicator of economic sentiment for Germany came in at negative 13.7 points in August, up 11.0 points from the prior month, when the measure was at a six-year low.

The current economic situation indicator ticked up 0.2 point to 72.6 points.

"The recent agreement in the trade dispute between the EU and the United States has led to a considerable rise in expectations for Germany and also, to a lesser degree, for the Eurozone," ZEW President Achim Wambach said in a statement.

"However, the economic outlook for Germany is now significantly less favorable than it was six months ago."

Earlier data showed German GDP growth at 0.5% in the second quarter, ahead of Econoday's expectation of a 0.4% quarterly growth.

Meanwhile, the financial market experts' sentiment concerning the economic development of the Eurozone improved 7.6 points to negative 11.1 points, while the indicator for the current economic situation fell 6.2 points to 30.0 points.