Germany's investor sentiment unexpectedly declined for the fourth consecutive month in August to its lowest level so far this year, results of the monthly ZEW survey indicated Tuesday.
The ZEW Indicator of Economic Sentiment fell to -25.5 from July's score of -19.6. Economists had expected the reading to improve to -19.3.
"The indicator's decline in August signals that financial market experts still expect the German economy to cool down throughout the next six months," ZEW said. "Especially export-oriented sectors may be affected."
However, the ZEW indicator is well above the negative levels it reached during the financial crisis of 2008, when it fell below the -60 mark.
The current conditions index, which reflects experts' view on the present situation, declined to 18.2 from July's 21.1. Economists had forecast a weaker score of 17.5.
by RTT Staff Writer
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