India, Aug. 12 -- Economic sentiment in Germany deteriorated sharply in August due to the disappointing trade agreement reached with the United States, and also due to the declining economic output in the second quarter, results of the monthly survey conducted by the think tank ZEW showed on Tuesday.
The ZEW Indicator of Economic Sentiment plummeted to a three-month low of 34.7 in August from 52.7 in the previous month. The score was below the forecast reading of 39.7.
"Financial market experts are disappointed from the announced EU-US trade deal," ZEW President Achim Wambach said.
The ZEW indicator also experienced a substantial decline due to the poor performance of the German economy in the second quarter, Wambach noted.
The ZEW pres...