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German investor sentiment defies threat of terrorism

A key economic indicator published by ZEW research group has climbed for the first time in seven months, showing that German financial investors appear unfazed by a mounting threat of terrorist attacks in Europe.

Investor sentiment in Germany rebounded in November after seven consecutive monthly falls, with ZEW's index jumping to 10.4 points from just 1.9 points a month earlier.

After releasing the new survey on Tuesday, ZEW president Clemens Fuest said the increase came in response to a brighter outlook for the German economy toward the end of the year.

"Economic pessimism appears not to have increased after the terror attacks in Paris," he added, pointing to data received since Friday night's jihadist killings in the French capital.

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Germany trims growth outlook

For the survey, ZEW polled 225 analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.

The sub-index measuring views of the current economic situation in Germany was largely unchanged, declining slightly by 0.8 points to 54.4 points.

The currently high level of public and state spending in Germany, the recent decline in the external value of the euro, and the ongoing recovery in the United States were expected to bolster the robust development of in Europe's biggest economy, the ZEW survey concluded.

uhe/pad (dpa, AFP, Reuters)

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