Investor’s sentiment bearish on future of European economy
German economic sentiment index fell to 10.8 in May, from a two-year high versus consensus for 19.0, down from April’s final reading of 23.4. Euro zone economic sentiment index plunged to -2.4 from 13.1, and German Current Situation Survey rose to 44.1 from 40.7 against a forecast for 39.0.
The ZEW economic sentiment index, which reflects investor and analyst expectations about economic developments in the next six months, showed signs of a grim economy in the future as speculation on Greece’s exit from the single currency and Spanish banks fuelled investor concerns.
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