German investor confidence posted a stronger-than-forecast gain in August, amid hopes that a US-Brussels' trade deal could end the threat of a growing tariff war between Washington and the European Union.
The Centre for European Economic Research (ZEW) said its closely watched monthly indicator for German investor expectations climbed to a more-than-forecast minus 13.7 points this month, from its July reading of minus 24.7 points. Analysts had forecast a gain to only minus 21.3 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," said ZEW President Achim Wambach.
"However, the economic outlook for Germany is now significantly less favourable than it was six months ago," he said.
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