Investing.com - German economic sentiment deteriorated to the lowest level since October 2014 in February, as the recent selloff in global equity markets weighed, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment declined by 9.2 points to 1.0 this month from January's reading of 10.2. Analysts had expected the index to fall by 7.0 points to 3.2 in February.
The Current Conditions Index dropped to 52.3 this month from 59.7 in January, below expectations for a reading of 55.5.
Meanwhile, the index of euro zone economic sentiment dropped to a 15-month low of 13.6 in February from 22.7 a month earlier, missing forecasts for 10.3.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.1180 from around 1.1178 ahead of the release of the data, while EUR/GBP was at 0.7733 from 0.7732 earlier.
Meanwhile, European stock markets were mostly lower. Germany's DAX shed 0.45%, the EURO STOXX 50 dipped 0.3%, France's CAC 40 fell 0.1%, while London's FTSE 100 advanced 0.1%.
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