German ZEW indicator hits two-year low
Hot off the press, the German ZEW Indicator of Sentiment dropped to -5.9 in June from 13.6 in May, whereas the euro zone economic sentiment index fell to -9 from 3.1.
These measures show investor confidence in both Germany and the euro zone at the lowest level in over two years.
“Investor confidence will remain under pressure in the coming months amid ongoing concern about the European debt crisis, and as fiscal consolidation throughout the region, higher official interest rates, and elevated crude oil prices weigh on economic activity,” said Moody’s Analytics – Dismal Scientist.
Source: Moody’s Analytics – Dismal Scientist, June 21, 2011.
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