Germany’s investor confidence retreated from an eight-year high registered in January, data from the ZEW Center for European Economic Research in Mannheim showed on Tuesday.
The index of investor expectations slipped to 17.8 this month, down from a previous of 20.4. Economists had predicted a soar to 16.0.
The same gauge in the euro area also slid to 29.3 from 31.8 in January, yet surpassing analysts’ projections of 28.4.
“The latest survey results continue to show a positive outlook for the German economy,” said ZEW President Professor Achim Wambach.
As of 10:54 GMT, the euro traded lower at $1.2333, resuming its plunge
since hitting a three-year peak at 1.2555 on February 16.