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Global economic expectations fall amid US protectionism

Economic expectations declined around the world and turned negative in Germany, following U.S. President Donald Trump's plans to impose tariffs on imports of steel and aluminum, Frankfurt-based independent research institute sentix said.

Sentix's overall economic index for the eurozone decreased to 24.0 in March from 31.9 in February, while the expectations index fell to 4.3 from 15.5 over the period.

The overall index for Germany decreased for the second consecutive month to 29.1 in March from 36.2 in February. The expectations index turned negative for the first time in two years, falling to negative 2.5 from 5.5 in the prior month. The research institute said Germany's economy is now in a slowdown mode.

The overall index for the U.S. decreased to 26.6 in March from 33.4 in the previous month and the expectations index fell to 0.5 from 10.8. Economic expectations for Asia excluding Japan were also down.

"Protectionism is likely to be one of the greatest threats to the global economy," according to the report.