ZEW’s German economic sentiment index declined to an eight-year low

The economic sentiment index plummeted to an eight-year low in March, according to a survey released on Tuesday in Germany by the ZEW Economic Research Institute in Berlin. Euro area indicators worsened in March.

For the month of March, the ZEW German economic sentiment index decreased to minus 49.5 points from the 8.7 points in the previous month.

The market expected a much smaller downturn. The consensus for March was minus 26.4 points among analysts. (MTI)