RTTNews - Tuesday, the Centre for European Economic Research or ZEW said its economic sentiment indicator for Germany dropped to 39.5 points in July from 44.8 points in June, below the expected reading of 47.8.
Economic expectations for Germany slightly dropped in July for the first time after an increasingly optimistic outlook in the previous months, ZEW said.
The assessment of the current economic situation in Germany remained almost unchanged in July. The corresponding indicator increased marginally by 0.4 points to minus 89.3 points.
The stabilization of the assessment of the current situation and the economic expectations for Germany confirm hitherto existing forecasts that economic performance will decrease by six percent in this year, ZEW President Wolfgang Franz said. The growth rates are likely to move around zero percent until the first months of 2010, Franz added.
The economic expectations for the Eurozone dropped by 3.2 points to 39.5 points. The indicator for the current economic situation in the region remained unchanged at minus 90.7 points.
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