Investing.com - German economic sentiment improved less-than-expected in May, 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 inched up by 0.1 points to 36.4 in May from April’s reading of 36.3.
Analysts had expected the index to rise by 2.0 points to 38.3 in May.
The Current Situation index declined to 8.9 in May from 9.2 in April, compared to expectations for an increase to 9.8.
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 27.6 in May from a reading of 24.9 in April. Economists had expected euro zone economic sentiment to rise to 27.3.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.2995.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.5%, France’s CAC 40 declined 0.5%, Germany's DAX slumped 0.5%, while London’s FTSE 100 dipped 0.2%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment inched up by 0.1 points to 36.4 in May from April’s reading of 36.3.
Analysts had expected the index to rise by 2.0 points to 38.3 in May.
The Current Situation index declined to 8.9 in May from 9.2 in April, compared to expectations for an increase to 9.8.
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 27.6 in May from a reading of 24.9 in April. Economists had expected euro zone economic sentiment to rise to 27.3.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.2995.
Meanwhile, European stock markets held on to losses following the data. The EURO STOXX 50 fell 0.5%, France’s CAC 40 declined 0.5%, Germany's DAX slumped 0.5%, while London’s FTSE 100 dipped 0.2%.