German ZEW Investor Confidence Survey Tops Expectations, Posts Highest Reading Since April 2006
The German ZEW investor confidence survey surged to a three-year high in August, with the index advancing to 56.1 from 39.5 in July, topping market expectations for a reading of 45.0. At the same time, the gauge of the current situation increased to -77.2 from -89.3 in the previous month, and investors are likely to hold an improved outlook for future growth after the economy unexpectedly expanded 0.3% in the second quarter. Meanwhile, the ZEW survey for the Euro-Zone jumped to 54.9 from 39.5 in July amid expectations for a rise to 43.0, and the data encourages an enhanced outlook for the region as policymakers expect economic activity to improve throughout the second-half of the year.
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