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German economic sentiment weakened slightly in December, results of a key survey showed Tuesday.
The Indicator of Economic Sentiment for Germany dropped to 50.4 in December from 51.1 in November, the Mannheim-based Centre for European Economic Research or ZEW said. Economists were looking for a reading of 50. This value is still well above the indicator's historical average of 27.0 points.
The latest sentiment reading indicates that the financial experts still reckon with a slow economic recovery, ZEW said. "Their optimism, on the one hand, may result from rising exports. On the other hand, investment demand seems to stabilise."
"We are still at the bottom of a recession. Next year, we will see a recovery, but not an economic upswing," said ZEW President Wolfgang Franz.
On the other hand, the current conditions index of the survey rose to minus 60.6 from minus 65.6, holding slightly below the consensus forecast of minus 60.1.
The economic expectations for the euro zone decreased 3.8 points to 48. The indicator for the current economic situation in the euro zone gained 2.5 points to minus 67.8.
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