German economic sentiment dropped in July, according to the ZEW think tank, which said Tuesday the outlook for Europe's largest economy continues to be favorable, despite the decline.
The ZEW's measure of economic expectations fell to 17.5 points from 18.6 points in June, which is below the indicator's long-term average of 23.8 points. Economists polled by The Wall Street Journal had forecast a decline to 17.0 points.
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Financial analysts and investors were also slightly less optimistic about Germany's current economic situation, the think tank said. The corresponding ZEW measure fell to 86.4 points from 88.0 points in July.
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(END) Dow Jones Newswires
July 18, 2017 05:29 ET (09:29 GMT)