April 16, 2019 / 9:15 AM / 6 months ago

World economy, Brexit delay boost German investor morale in April

BERLIN, April 16 (Reuters) - The mood among German investors improved for the sixth month in a row in April, a ZEW survey showed on Tuesday, as the growth outlook for Europe’s largest economy brightened amid a resilient global economy and a delay to Britain’s departure from the EU.

The ZEW research institute said its monthly survey showed economic sentiment among investors improved to 3.1 from -3.6 in March. Economists had expected a smaller increase to 0.8.

A separate gauge measuring investors’ assessment of the economy’s current conditions fell to 5.5 from 11.0 in the previous month. Markets had predicted a dip to 8.0.

ZEW President Achim Wambach said the slight improvement in economic sentiment was largely based on the hope that the global economy would develop less poorly than previously assumed.

“The postponement of the Brexit deadline may also have contributed to buoy the economic outlook,” Wambach said. (Reporting by Michael Nienaber,)

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