German Economic Sentiment Picks Up Further in May

German economic sentiment picked up further in May, a sign that Europe's largest economy is "in good shape," the ZEW think tank said Tuesday.

Its measure of economic expectations rose to 20.6 points from 19.5 points in April, which marks the highest level since August 2015. But the ZEW indicator, which reflects the assessment of financial analysts, remains below its long-term average of 23.9 points.

An improving outlook for the eurozone economy should support German exports, said ZEW President Achim Wambach.

-Write to Nina Adam at

(END) Dow Jones Newswires

May 16, 2017 05:48 ET (09:48 GMT)