Germany's economic confidence hit its lowest since late 2011 in July, dampened by concerns about energy supply, the looming interest rate hike and the pandemic-related restrictions in China, survey results from the ZEW - Leibniz Centre for European Economic Research showed on Tuesday.
The ZEW Indicator of Economic Sentiment slumped 25.8 points to -53.8 in July, while the score was expected to fall moderately to -38.3 from -28.0 in June. A similar weak reading was last reported in December 2011.
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by Renju Jaya
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