German ZEW economic sentiment holds steady near 4-year low
Investing.com
Published Sep 13, 2016 05:03AM ET
German ZEW economic sentiment unchanged
Investing.com - German economic sentiment was unchanged near the lowest level in four years in September, disappointing expectations for a modest improvement, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment was unchanged at 0.5 this month. Analysts had expected the index to rise by 2.0 points to 2.5 in September.
The Current Conditions Index dropped to 55.1 this month from 57.6 in August, worse than expectations for a reading of 56.0.
Meanwhile, the index of euro zone economic sentiment advanced to 5.4 in September from 4.6 a month earlier, missing forecasts for a reading of 6.7.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.1227 from around 1.1235 ahead of the release of the data, while EUR/GBP was at 0.8452 from 0.8445 earlier.
Meanwhile, European stock markets were mixed in subdued trade. Germany's DAX inched up 0.15%, the EURO STOXX 50 fell 0.1%, France’s CAC 40 dropped 0.1%, while London’s FTSE 100 declined 0.15%.
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