German investor sentiment has fallen to its lowest level for eight months, according to leading economic researchers, ZEW.

The group’s monthly survey – which was largely compiled before Greece’s deal with international creditors – showed the investor optimism slipping to 29.7 points in July – from 31.5 in June.

The German economy was powering ahead late last year but growth fell back between January and March, slowing to 0.3 percent.