2019.06.1805:35:00UTC+00Germany's ZEW Economic Sentiment At 7-Month Low

Germany's economic confidence weakened sharply to a 7-month low in June, survey data from the ZEW-Leibniz Centre for European Economic Research showed on Tuesday.

The economic sentiment index declined 19 points to -21.1 in June. The score was forecast to fall moderately to -5.6. This was the lowest reading since November 2018.

This sharp decline coincides with an increased uncertainty regarding the future development of the global economy and substantially worsened figures for the German economy at the beginning of the second quarter, ZEW President Achim Wambach, said.

The current situation indicator came in at 7.8 versus 8.2 a month ago and forecast of 6.1 points.

The Eurozone economic sentiment index declined 18.6 points from last month to -20.2 in June. By contrast, the indicator for the current economic situation climbed 3.3 points to minus 3.7 points.