Sentiment among German investors about the outlook for Europe's largest economy deteriorated more than expected in July, the latest survey by the ZEW economic research institute showed today.
The Mannheim-based think tank said its economic sentiment indicator, based on a survey of 306 analysts and institutional investors, fell to 10.4 this month from 20.3 in June.
The mid-range forecast in a Reuters survey of 49 economists polled last week was for a July reading of 19.0, with forecasts ranging from 10 to 28.
A separate gauge of current conditions for Germany dropped to 88.2 this month from 88.7 in June.
The consensus forecast was for a reading of 88.0. A measure of expectations for the euro region fell to 7.2 after 19.0 the previous month.
