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Financial News: German Economic Confidence Weakens In July

German Economic Confidence Weakens In July

07/18/2017 - 05:22:00 (RTTNews)

(RTTNews) - German economic sentiment deteriorated more than expected in July, survey data from the Mannheim-based Centre for European Economic Research/ZEW revealed Tuesday. The ZEW Indicator of Economic Sentiment fell to 17.5 in July from 18.6 in June. The score was forecast to drop to 18.0.

The assessment of the current economic situation in Germany decreased by 1.6 points to 86.4 in July.

"Our overall assessment of the economic development in Germany remains unchanged compared to the previous month," ZEW President Professor Achim Wambach, said.

"The outlook for the German economic growth in the coming six months continues to be positive. This is now also reflected in the survey results for the eurozone."

The expectation indicator for the euro area slid 2.1 points to 35.6 in July. By contrast, the current economic situation index gained 8.2 points to 28.7.

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