Economics
Investor Hopes for German Recovery Dampened by Uncertain Outlook
- Expectations drop to 59.3, below median estimate of 60.0
- ZEW says investors see gradual increase in GDP in second half
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Investors dampened their expectations about the rebound in Germany, adding to signs that it still has a long road ahead as it recovers from the coronavirus lockdowns in the first half of the year.
While a ZEW gauge of current conditions in Europe’s largest economy improved in July, confidence for the next six months slipped. The survey comes on the heels of reports highlighting that weak export demand has weighed down momentum, and warnings that a second wave of infections could quickly derail any progress.