FRANKFURT, Sept 16, 2008 (AFP) - Germany's closely watched ZEW economic indicator showed an improvement in its latest reading released Tuesday, boosted by lower oil prices and a weaker euro, and beating expectations.

The ZEW said its investor sentiment index -- compiled between September 1 and 15, the day that US investment bank Lehman Brothers collapsed -- showed a 14.4-point improvement to reach minus 41.1 points.

This was better than expected, with economists polled by Dow Jones Newswires forecasting a slight improvement to minus 54 points. The ZEW polled 315 analysts and institutional investors for its monthly survey.