Germany ZEW Economic Sentiment dropped to 59.3 in July, down from 63.4, missed expectation of 60.0. Current Situation index rose to -80.9, up form -83.1, missed expectation of -64.0. Eurozone ZEW Economic Sentiment rose to 59.6, up from 58.6, beat expectation of 55.8. Eurozone Current Situation rose 0.9 pts to -88.7.

“The outlook for the German economy largely remains unchanged compared to the previous month. After a very poor second quarter, the experts expect to see a gradual increase in gross domestic product in the second half of the year and in early 2021,” comments ZEW President Professor Achim Wambach.

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