After three consecutive months of increases, the ZEW Business Sentiment Index in Germany fell below expectations in August, dropping 18 points to 34.7, down from 52.7 in July. Expectations were for growth of 39.5 to 34.8. The August decline in the index coincided with a deterioration in the assessment of the current economic situation in Germany, reaching 68.6, down 9.1 from the July reading. The report indicated that market experts are disappointed with the EU-US trade agreement.
Conversely, the index for the eurozone fell by 11 points to 25.1, compared to expectations of an increase of around 28.1. The current situation assessment also fell by -7 points to -31.2.