Investing.com - German economic sentiment deteriorated to the lowest level in five months in May, dampening optimism over the health of the euro zone'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 tumbled by 11.4 points to 41.9 this month from April’s reading of 53.3. Analysts had expected the index to drop by 4.3 points to 49.0 in May.
The Current Conditions Index declined to 65.7 this month from 70.2 in April, worse than expectations for a fall to 68.0.
Meanwhile, the index of euro zone economic sentiment slipped to 61.2 in May from 64.8 in April, disappointing forecasts for a decline to 62.4.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.1192 from around 1.1194 ahead of the release of the data, while EUR/GBP was at 0.7199 from 0.7203 earlier.
Meanwhile, European stock markets were broadly higher. Germany's DAX jumped 2.1%, the EURO STOXX 50 rose 2.1%, France’s CAC 40 advanced 2.1%, while London’s FTSE 100 tacked on 0.45%.
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German ZEW economic sentiment plunges to 41.9 in May from 53.3
Published 05/19/2015, 05:03 AM
Updated 05/19/2015, 05:03 AM
German ZEW economic sentiment plunges to 41.9 in May from 53.3
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