A report from the ZEW Centre for Economic Research showed its economic confidence index fell 4.7 points to 25.0 in August, dragged lower by concerns over the state of the global economy.
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Although the consensus of analysts expected an improvement after the relaxation of uncertainty on Greece, the ZEW Indicator of Economic Sentiment for Germany declines again in August 2015.
Economists said a relative respite in the Greek crisis had not put German investors’ minds at ease.
“The German economic engine is still running smoothly”, ZEW President Clemens Fuest said.
For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.
The financial market experts’ sentiment concerning the economic development of the Eurozone has improved. The corresponding index gained 4.9 points to 47.6.
However, a separate gauge of current conditions rose to 65.7 points from 63.9 points in July, surpassing expectations for this index to rise to 64.3.
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Economic sentiment in the euro area improved in August.
