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German ZEW economic indicator drops in June

13 Juin 2017

German economic confidence weakened in June, survey data from the Mannheim-based Centre for European Economic Research/ZEW showed Tuesday.

The ZEW indicator of economic sentiment dipped to 18.6 points, down 2.0 points from May, and remains below its long-term average of 23.9 points. Economists polled by The Wall Street Journal had forecast a slight increase in the expectations component to 21.5 points.

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A separate gauge measuring investors' assessment of the economy's current conditions rose to 88.0 from 83.9 last month. This was the highest level since July 2011. This compared with the Reuters consensus forecast which predicted a reading of 85.0. This is not least due to the positive GDP growth in the European Union in the first quarter of 2017.

The economic confidence index for the euro area climbed 2.6 points to 37.7.