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7/14, 11:00 AM (Source: TeleTrader)
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ZEW: German economic sentiment slips in July

Economic sentiment in Germany slipped 4.1 points in July compared to the previous month to land at 59.3 points and fail the estimates, according to the monthly survey published by the Centre for European Economic Research (ZEW) on Tuesday. Concurrently, the assessment of the economic situation in Europe's largest economy improved for the second time since January, rising 2.2 points to reach -80.9 points.

Commenting on the figures, ZEW President Achim Wambach said that "the outlook for the German economy largely remains unchanged compared to the previous month," adding that "experts expect to see a gradual GDP increase in the second half of the year and early 2021."

Meanwhile, the ZEW Indicator of Economic Sentiment for the Eurozone monthly grew 1 point to reach 59.6 points in July. In the same month, assessment of the current situation in the euro area also increased slightly, climbing 0.9 points to -88.7 points.

Breaking the News / ND