German ZEW economic sentiment improves less than expected in May
Investing.com
Published May 16, 2017 05:01AM ET
German ZEW economic sentiment hits 20.6 vs. 22.0 forecast
Investing.com - German economic sentiment was rose less than expected in May, missing forecasts and dampening optimism over the motor of the euro zone economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose to 20.6 this month from April’s reading of 19.5. Analysts had expected the index to increase to 22.0 in May.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
The Current Conditions Index however increased to 83.9 this month from 80.1 in April, compared to expectations for an improvement to only 82.0.
Meanwhile, the index of euro zone economic sentiment jumped to 35.1 in May from 26.3 a month earlier. Consensus was looking for an increase to 29.1.
Following the report, EUR/USD was trading at 1.1036 from around 1.1044 ahead of the release of the data, while EUR/GBP was at 0.8559 from 0.8554 earlier.
Meanwhile, European stock markets were trading mixed. The benchmark Euro Stoxx 50 slipped 0.08%, Germany's DAX dropped 0.08%, France’s CAC 40 fell 0.48%, while London’s FTSE 100 advanced 0.43%.
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Written By: Investing.com
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