Investing.com - German economic sentiment declined unexpectedly in November, hitting the lowest level in two months, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment deteriorated by 4.2 points to minus 15.7 in November from October’s reading of minus 11.5.
Analysts had expected the index to improve by 1.7 points to minus 9.8 in November.
The Current Situation index declined to 5.4 in November from 10.0 in October, compared to expectations for a decline to 8.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, economic sentiment in the euro zone remained in negative territory for the seventh consecutive month in November.
The index of euro zone economic sentiment declined by 1.2 points to minus 2.6 from a reading of minus 1.4 in October.
Economists had expected euro zone economic sentiment to improve by 1.6 points to 0.2 in November.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.2670.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.7%, France’s CAC 40 declined 0.85%, Germany's DAX dipped 0.6%, while London’s FTSE 100 slumped 0.8%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment deteriorated by 4.2 points to minus 15.7 in November from October’s reading of minus 11.5.
Analysts had expected the index to improve by 1.7 points to minus 9.8 in November.
The Current Situation index declined to 5.4 in November from 10.0 in October, compared to expectations for a decline to 8.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, economic sentiment in the euro zone remained in negative territory for the seventh consecutive month in November.
The index of euro zone economic sentiment declined by 1.2 points to minus 2.6 from a reading of minus 1.4 in October.
Economists had expected euro zone economic sentiment to improve by 1.6 points to 0.2 in November.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.2670.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.7%, France’s CAC 40 declined 0.85%, Germany's DAX dipped 0.6%, while London’s FTSE 100 slumped 0.8%.