Germany's economic confidence weakened to the lowest since the global financial crisis in 2008, signaling the risk of a recession in the second half of the year, results of a closely watched survey revealed Tuesday.
The economic confidence index dropped to -55.3 in August from -53.8 in July, survey results from the ZEW - Leibniz Centre for European Economic Research showed. This was the lowest score since October 2008, when the reading was -63.0. Economists had forecast the index to remain unchanged at -53.8.
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by Renju Jaya
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