The German economic sentiment has deteriorated

The August economic sentiment index of the German ZEW Institute for Economic Research increased more than expected.

The economic sentiment index calculated on the basis of a survey by the financial analysts of the Mannhem-based institute decreased to 10 points from the 17.5 points of July, indicating that the market expects a decline in the momentum of the German economy. Analysts expected the index to drop to only 15 points. (MTI)