Investing.com – German economic sentiment fell unexpectedly in March, data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to 14.1 in March, down from 15.7 in February.
Analysts had expected the index to rise to 16.0 in March.
On the index, a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
Commenting on the report, ZEW President Wolfgang Franz said, “The German economy is in a robust shape. Nevertheless, the tragic events in Japan could slow down the dynamics of German economic growth at least in the short run".
The report also showed that economic sentiment in the euro zone rose less-than-expected in March, climbing to 31.0, after rising to 29.5 in February.
Analysts had expected euro zone economic sentiment to rise to 34.5 in March.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD slumping 0.92% to hit 1.3862.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 tumbled 3.81%, France’s CAC 40 plunged 3.64%, Germany's DAX plummeted 4.91%, while the FTSE 100 dropped 2.73%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to 14.1 in March, down from 15.7 in February.
Analysts had expected the index to rise to 16.0 in March.
On the index, a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
Commenting on the report, ZEW President Wolfgang Franz said, “The German economy is in a robust shape. Nevertheless, the tragic events in Japan could slow down the dynamics of German economic growth at least in the short run".
The report also showed that economic sentiment in the euro zone rose less-than-expected in March, climbing to 31.0, after rising to 29.5 in February.
Analysts had expected euro zone economic sentiment to rise to 34.5 in March.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD slumping 0.92% to hit 1.3862.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 tumbled 3.81%, France’s CAC 40 plunged 3.64%, Germany's DAX plummeted 4.91%, while the FTSE 100 dropped 2.73%.