Investing.com – German economic sentiment fell more-than-expected in September, data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
Commenting on the report, ZEW President Prof. Wolfgang Franz said, " Financial experts put more weight on risks…for example the slowdown of the US growth and the yet unresolved problems in the euro zone which are for instance reflected by the large interest rate spreads for Greek government bonds".
He added, "Nevertheless, the risk of a double dip remains low for Germany".
The report also said that economic sentiment in the euro zone fell to 4.4 in September, after rising to 15.8 in August.
Analysts had expected euro zone economic sentiment to decline to 14.9 in September.
Following the release of the data the euro was down against the U.S. dollar, with EUR/USD shedding 0.13% to hit 1.2866.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
Commenting on the report, ZEW President Prof. Wolfgang Franz said, " Financial experts put more weight on risks…for example the slowdown of the US growth and the yet unresolved problems in the euro zone which are for instance reflected by the large interest rate spreads for Greek government bonds".
He added, "Nevertheless, the risk of a double dip remains low for Germany".
The report also said that economic sentiment in the euro zone fell to 4.4 in September, after rising to 15.8 in August.
Analysts had expected euro zone economic sentiment to decline to 14.9 in September.
Following the release of the data the euro was down against the U.S. dollar, with EUR/USD shedding 0.13% to hit 1.2866.