BRUSSELS (dpa-AFX) - Germany's economic confidence strengthened more-than-expected in July to the highest level in five months, the financial market survey conducted by the think tank ZEW showed Tuesday.
The investor sentiment index improved to 26.3 in July from 10.5 in June. The score hit the highest since February and remained well above the expected score of 18.0.
Expectations brightened in July as the reform package appears to be having an effect. The export-oriented sectors and domestic demand recorded stable growth.
'Nevertheless, the development of the Iran conflict and the oil price remain a key uncertainty factor for Germany's recovery,' ZEW President Prof. Dr. hc Achim Wambach said.
The assessment of the current economic situation also strengthened, with the corresponding index rising to -77.6 in July from -81.0 in July.
The outlook for the Eurozone improved, and the expectations index climbed to 23.4 from 9.5 in June.
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