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German business sentiment improves less than expected - ZEW
(Sharecast News) - German business sentiment improved less than expected in June, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim. The headline ZEW investor expectations index rose to 47. 5 from 47.1 in May, but this was below expectations for a reading of 50.0.
The current conditions index fell to -73.8 in June from -72.3 the month before.
ZEW President Achim Wambach said: "Both the sentiment and the situation indicators stagnate. These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole.
"In contrast, the inflation expectations of the respondents increase, which is likely related to the inflation rate in May, which turned out higher than what was expected."
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