German economic sentiment dips more than expected - ZEW

The ZEW's measure of economic expectations fell to 17.5 points from 18.6 points in June, which is below the indicator's long-term average of 23.8 points. The outlook for the German economic growth in the coming six months continues to be positive.

"Our overall assessment of the economic development in Germany remains unchanged compared to the previous month", ZEW President Professor Achim Wambach, said. Output rose 0.6 percent in the first quarter from the previous three-month period, and 1.7 percent from the year before.

Financial analysts and investors were also slightly less optimistic about Germany's current economic situation, the think tank said.

She pointed out that the index has been much less reliable than business surveys such as the Ifo, which still point to a sharp acceleration in growth.

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