Survey index of German investment professionals rises for third month in a row
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Investment professionals' optimism about the German economy rose in February in another sign that the country may avoid a recession.
The ZEW institute survey out Tuesday rose to 48.2 from a 31.5 figure in January. It was the third monthly increase in a row and more than the 36 points expected by market analysts.
The institute asked 272 investment professionals about their view of how things will go in the next six months.
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Germany's economy shrank 0.6 percent in the fourth quarter, and a second drop in the first quarter of this year would meet a common definition of recession. But many economists think the dip was only temporary and that the economy will quickly return to growth.