German investor confidence rebounded in August after a sharp drop in the previous month due to British voters' decision to leave the European Union, a survey found on Tuesday.
The Centre for European Economic Research (ZEW) in Mannheim said its index of investor sentiment for German economy picked up to 0.5 points in August from minus 6.8 points in July.
"The ZEW Indicator of Economic Sentiment has partly recovered from the Brexit shock," said ZEW President Achim Wambach in a statement.
However, the reading was less than economists' expectation of 2 points. According to ZEW, investor confidence about Germany's economic outlook remained subdued.
"Political risks within and outside the European Union, however, continue to inhibit a more optimistic economic outlook for Germany," Wambach said, "Furthermore, uncertainty about the resilience of the EU banking sector persists."
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