By Tuba Ongun
ANKARA (AA) – Economic morale in Germany surprisingly dropped in November compared to a month ago, according to data released on Tuesday.
The Leibniz Centre for European Economic Research's (ZEW) indicator of economic sentiment for Germany dropped by 5.7 points month-on-month to 7.4 points in November.
The figure bucked market expectations of a 0.1-point rise for this month.
"Economic expectations for Germany have been overshadowed by Trump’s victory and the collapse of the German government coalition," ZEW head Achim Wambach said.
The assessment of Germany's current economic situation also worsened, falling by 4.5 points to minus 91.4 points.
The ZEW indicator of economic sentiment for the euro area also posted a decline, from 7.6 points in October to 12.3 points in November.