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Germany: economic sentiment sharply down in June

Zew index stands at minus 21.1 points

18 June, 18:16
(ANSA) - BELGRADE, JUNE 18 - The ZEW index, which measures the economic sentiments of companies in Germany, decreased sharply in June 2019 and stands currently at minus 21.1 points, the ZEW Economic Research institute said in a statement today. "This corresponds to a drop of 19.0 points compared to the previous month," ZEW noted, adding that the economic outlook for Germany is currently "similarly negative as it was in the last quarter of 2018." The drop in the ZEW indicator "coincides with an increased uncertainty regarding the future development of the global economy and substantially worsened figures for the German economy at the beginning of the second quarter," said ZEW President Professor Achim Wambach. Among the other reasons for the drop, ZEW listed the intensification of the conflict between the USA and China, an increased risk of a conflict in the Middle East, the higher probability of a no-deal Brexit and the worse than expected figures for German production, exports and retail. (ANSA).

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