The ZEW released its economic sentiment index for Germany and the Eurozone today. The economic sentiment index for Germany dropped to -3.6 in October from 6.9 in September, missing expectations for a decrease to 0.2. That was the 10^th straight decline in 10 months and the lowest level since November 2012.

The economic sentiment index for the Eurozone fell to 4.1 in October from 14.2 in September, missing expectations for a decline to 7.1.

The ZEW President Clemens Fuest said that the decline was driven by "geopolitical tensions and the weak economic development in some parts of the Eurozone". He added the disappointing economic data have contributed to the growing pessimism.