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Confidence in German Economy Erodes
European analysts and institutional investors have turned more pessimistic about Germany's economic prospects over the next six months, according to the Centre of European Economic Research (ZEW).
The group's sentiment index for Germany dropped to -15.7 this month from -11.5 in October.
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European analysts and institutional investors have turned more pessimistic about Germany's economic prospects over the next six months, according to the Centre of European Economic Research (ZEW).
The group's sentiment index for Germany dropped to -15.7 this month from -11.5 in October. The group's measure of current conditions slid to 5.4 from 10.0 in October.
ZEW attributes the waning confidence to Germany's declining exports, manufacturing orders and industrial production. The country's economics minister predicted on Friday that the domestic economy will weaken "noticeably" this winter.
Expectations about the eurozone economy worsened by only 1.2 points in November to an index reading of -2.6 points, ZEW reports.
The group's gauge of sentiment about the region's current conditions dipped 0.9 points to -80.3.
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