German economic sentiment dropped in June, according to the ZEW think tank, which said Tuesday that the outlook for Europe's largest economy continues to be favorable, despite the decline.
The ZEW's measure of economic expectations fell to 18.6 points from 20.6 points in May, which is below the indicator's long-term average of 23.9. Economists polled by The Wall Street Journal had forecast a slight increase in the expectations component to 21.5 points.
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But analysts' assessment of the current economic situation was more optimistic in June, as the corresponding ZEW measure rose to 88.0 points from 83.9 in May--the highest level since July 2011.
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(END) Dow Jones Newswires
June 13, 2017 05:48 ET (09:48 GMT)