BERLIN, July 18 (Reuters) - The mood among German investors worsened for the second consecutive month in July while remaining at a relatively high level, a survey showed on Tuesday.

The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index fell to 17.5 from 18.6 in June. This undershot a Reuters consensus forecast for a fall to 18.0.

A separate gauge measuring investors' assessment of the economy's current conditions dropped to 86.4 from 88.0 last month. This compared with the Reuters consensus forecast predicting a stable reading. (Reporting by Michael Nienaber; Editing by Madeline Chambers)