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The ZEW Indicator of Economic Sentiment for Germany decreased sharply in July 2016. The index has decreased by 26.0 points compared to the previous month, now standing at minus 6.8 points (long-term average: 243 points). This is the indicator's lowest reading since November 2012. "The Brexit vote has surprised the majority of financial market experts. Uncertainty about the vote's consequences for the German economy is largely responsible for the substantial decline in economic sentiment. In particular, concerns about the export prospectus and the stability of the European banking and financial system are likely to be a burden".
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