German ZEW investor sentiment falls on virus, Brexit angst

BERLIN, Oct 13 (Reuters) - Investor sentiment in Germany fell by more than expected in October as a rise in coronavirus cases and the risk of no Brexit trade deal increased uncertainty about the outlook for Europe’s largest economy, the ZEW economic research institute said.

The survey of investors’ economic sentiment fell to 56.1 from 77.4 points the previous month, ZEW said on Tuesday. A Reuters poll had pointed to a fall to 73.0.

“The recent sharp rise in the number of COVID-19 cases has increased uncertainty about future economic development, as has the prospect of the UK leaving the EU without a trade deal,” ZEW President Achim Wambach said in a statement.

A separate gauge of current conditions rose to -59.5 from -66.2 points the previous month. That compared with a consensus forecast of -60.0 points. (Writing by Paul Carrel Editing by Caroline Copley)