German ZEW Economic Sentiment Index Drops Sharply to 40.4 in Aug

The German ZEW headline numbers for August showed that the Economic Sentiment Index dropped more than expected to 40.4 from 63.3 previous while missing estimates of 56.7.

Meanwhile, the Current Conditions sub-index slipped to 29.3. in August as against 21.9 recorded in the previous month and 30.0 expectations.