German Economic Confidence At 4-Month Low
18 Luglio 2017 - 10:29AM
RTTF2
German economic sentiment deteriorated more-than-expected to a
four-month low in July, survey data from the Mannheim-based Centre
for European Economic Research/ZEW revealed Tuesday.
The ZEW Indicator of Economic Sentiment fell to 17.5 in July
from 18.6 in June. The score was forecast to drop to 18.0.
This was the lowest reading since March, when the score was
12.8.
The assessment of the current economic situation also weakened
in July. The corresponding index decreased by 1.6 points to
86.4.
"Our overall assessment of the economic development in Germany
remains unchanged compared to the previous month," ZEW President
Achim Wambach said.
"The outlook for the German economic growth in the coming six
months continues to be positive. This is now also reflected in the
survey results for the eurozone."
The expectation indicator for the euro area slid 2.1 points to
35.6 in July. By contrast, the current economic situation index
gained 8.2 points to 28.7.
Since November 2016, the indicator for the economic situation in
the Eurozone has been steadily increasing, now reaching its highest
level since January 2008, ZEW said.
July's dip in German investor sentiment presumably reflects the
recent tightening of financial market conditions in response to the
European Central Bank's talk of policy normalization, Jennifer
McKeown at Capital Economics, said.
But this cannot be considered as a sign of an economic slowdown
to come, the economist added.
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