16.07.201905:38:00UTC+00Germany ZEW Economic Confidence At 8-Month Low

Germany's economic confidence weakened to an eight-month low in July, survey data from the ZEW-Leibniz Centre for European Economic Research showed on Tuesday.

The economic confidence index declined to -24.5 in July from -21.1 in June. This was the lowest score since November 2018. The expected reading was -22.

The current conditions index fell to -1.1 in July from 7.8 in June. The expected score was 5.

"In particular the continued negative trend in incoming orders in the German industry is likely to have reinforced the financial market experts' pessimistic sentiment," ZEW President Achim Wambach, said.

The euro area economic confidence dropped 0.1 points to -20.3 in July. At the same time, the current conditions index fell 6.9 points to -10.6.