German Nov. ZEW index falls unexpectedly to -15.7

FRANKFURT (MarketWatch)
Germany's ZEW expectations index fell unexpectedly Tuesday to minus 15.7 in November from minus 11.5 in October
The index, compiled by the Mannheim-based Center for European Economic Research, or ZEW, had been forecast to rise to minus 10
"Prevailing recessionary developments in the euro zone impact the German economy via foreign trade and a lack of confidence
This is likely to be a burden for economic growth in Germany during the next six months," said ZEW President Wolfgang Franz
The index, based on a survey of financial market professionals, is a closely watched gauge of German investor sentiment but is seen as a less reliable economic indicator than the German Ifo index or monthly purchasing-managers' index readings