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6/8, 11:03 AM (Source: TeleTrader)
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ZEW: German economic sentiment worsens in June

Economic sentiment in Germany stood at 79.8 points in June, marking a 4.6-point drop compared to the previous month, a survey conducted by the Centre for European Economic Research (ZEW) revealed on Tuesday. The figure came below the analysts' expectations.

The assessment of the economic situation in the country landed at negative 9.1 points, improving by 31 points in comparison to the figure posted in May. Economic sentiment in the euro area slid 2.7 points from the previous month to land at 81.3 in June, while the indicator for the current economic situation in the Eurozone improved by 27 points, coming in at negative 24.4 points.

"The economic recovery is progressing. Although the ZEW Indicator of Economic Sentiment has experienced a drop in June, it remains at a very high level. The decline in expectations is probably largely due to the considerably better assessment of the economic situation, which is now back at pre-crisis levels. The financial market experts therefore continue to expect a strong economic recovery for the next six months," ZEW President Professor Achim Wambach commented.

Breaking the News / BU