German economic sentiment improves more than expected in July - ZEW

(Sharecast News) - German economic sentiment improved more than expected in July, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim. The ZEW economic expectations index rose to 26.3 from 10.5 in June, coming in above expectations for a reading of 18.0.

Meanwhile, the current conditions index printed at -77.6 in July, up from -81.0 the month before.

ZEW President Achim Wambach said: "The economic outlook continues to improve in July; it seems that the reforms are having an effect. Especially the export-oriented sectors as well as domestic demand experience sustained growth.

"Nevertheless, the uncertainty associated with the developments in the Iran conflict and the oil price remain a crucial factor affecting the prospects for a recovery of the German economy."