Investing.com - German economic sentiment deteriorated unexpectedly in July, underlining concerns over the impact of the euro zone’s debt crisis on the region’s largest economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell by 2.2 points to 36.3 in July from June’s reading of 38.5.
Analysts had expected the index to rise by 1.1 points to 39.6 in July.
The Current Situation index rose to 10.6 in July from 8.6 in June, beating expectations for an increase to 9.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, the index of euro zone economic sentiment improved to 32.8 in July from a reading of 30.6 in June. Economists had expected euro zone economic sentiment to rise to 31.8 this month.
Following the release of that data, the euro was little changed against the U.S. dollar, with EUR/USD easing down 0.03% to trade at 1.3058.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 fell 0.5%, France’s CAC 40 dipped 0.5%, Germany's DAX declined 0.4%, while London’s FTSE 100 eased up 0.1%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell by 2.2 points to 36.3 in July from June’s reading of 38.5.
Analysts had expected the index to rise by 1.1 points to 39.6 in July.
The Current Situation index rose to 10.6 in July from 8.6 in June, beating expectations for an increase to 9.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, the index of euro zone economic sentiment improved to 32.8 in July from a reading of 30.6 in June. Economists had expected euro zone economic sentiment to rise to 31.8 this month.
Following the release of that data, the euro was little changed against the U.S. dollar, with EUR/USD easing down 0.03% to trade at 1.3058.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 fell 0.5%, France’s CAC 40 dipped 0.5%, Germany's DAX declined 0.4%, while London’s FTSE 100 eased up 0.1%.