(MENAFN) Economic confidence in Germany experienced a modest decline in November, even as projections for the nation’s overall economic condition remained largely steady, according to the Mannheim-based ZEW Institute on Tuesday.

The ZEW Indicator of Economic Sentiment dropped to 38.5 points, marking a decrease of 0.8 points from October. Meanwhile, the evaluation of the current economic climate held relatively constant, climbing 1.3 points to minus 78.7.

ZEW President Achim Wambach noted that while the indicator is generally stable, trust in Germany’s economic policymaking continues to erode.

“The ZEW indicator of economic sentiment remains stable, but the overall mood is characterized by a fall in confidence in the capacity of Germany’s economic policy to tackle the pressing issues,” he explained.

He added, “Although the investment programme is likely to provide economic stimulus, the structural problems continue to exist.”

For the broader eurozone, the outlook improved slightly, rising by 2.3 points to 25.0 in November, according to the institute.

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