Falling index ‘no cause for German alarm’

The main indicator for economic sentiment in Germany has dropped for a third month in a row.

The ZEW Index fell by 2.7 points in July to stand at -19.6. Moreover, the ZEW Index for eurozone economic sentiment also fell for July to stand at -22.3 points.

“In the absence of other important macro data for the eurozone and Germany this week, the ZEW Index could get more market attention than normal,” said Brussels-based ING Bank economist Carsten Brzeski.