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German investor morale rises modestly in June, ZEW says

by Uma
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German investor morale rises modestly in June, ZEW says

BERLIN (Reuters) -The recovery in German investor morale tapered off in June, the ZEW economic research institute said on Tuesday, reporting a modest rise in its economic sentiment index that fell short of forecasts.

The economic sentiment index rose to 47.5 points from 47.1 points in May. Analysts polled by Reuters had forecast a June reading of 50.0.

The assessment of the current economic situation in Germany slightly deteriorated in June, falling to minus 73.8 points from minus 72.3.

ZEW president Achim Wambach said that the inflation expectations of respondents had increased, likely related to the inflation rate in May, which turned out higher than expected.

(Reporting by Andrey Sychev and Maria Martinez; editing by Rachel More, Madeline Chambers and Christina Fincher)