A German index of economic optimism among investors fell in June despite improving growth prospects for the country and its trading partners in the 19-country eurozone.
The ZEW indicator of economic sentiment dipped to 18.6 points, down 2.0 points from May, and remains below its long-term average of 23.9 points.
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That's despite a strengthening and broadening recovery that saw the eurozone record a 0.5 percent increase in output in the first quarter.
The indicator compiled by the ZEW research institute was based on a survey of 210 investment analysts from May 29 to June 12.