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German economic expectations improve slightly in November

Financial market experts' sentiment regarding Germany's economic growth improved slightly in November but remains in negative territory and well below its long-term average.

The ZEW indicator of economic sentiment for the country edged up by 0.6 point from the previous month to negative 24.1 in November, slightly higher than Econoday's consensus estimate of negative 26.8. The assessment of the current economic situation fell more than expected, with the corresponding indicator decreasing by 11.9 points to 58.2; the Econoday consensus was 65.0.

"The expectations of the survey participants for the coming six months do not show any improvement," said ZEW President Achim Wambach. "This means that, at the moment, they do not expect to see a speedy recovery of the currently weak development of the economy,"

The economic expectations index for the eurozone declined by 2.6 points from the prior month to negative 22.0. The indicator for current economic situation in the single-currency area decreased by 13.8 points to 18.2.