German business sentiment unexpectedly deteriorates in November - ZEW

(Sharecast News) - German business sentiment unexpectedly deteriorated in November, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim. The ZEW economic sentiment indicator fell to 38.5 from 39.3 in October, coming in below expectations for a reading of 41.0.

Meanwhile, the index for the current economic situation declined to -78.7 in November from -80.0 the month before.

ZEW President Achim Wambach said: "The ZEW indicator of economic sentiment remains stable. But the overall mood is characterised by a fall in confidence in the capacity of Germany's economic policy to tackle the pressing issues.

"Although the investment programme is likely to provide economic stimulus, the structural problems continue to exist."