The ifo economic index for the Eurozone deteriorated in the fourth quarter of 2015, according to the latest survey conducted by German think tank ifo institute.
The assessment of the current economic climate dropped from 124 to 122 bsp, and the six month economic outlook from 109.8bsp to 103.3bsp, while the assessment of the current situation improved gradually from 148.3 to 153.8bsp compared to the previous quarter.
Nevertheless, the growth outlook for most European countries remained moderately optimistic, respondents were particularly upbeat about the prospects for Ireland, Italy, Lithuania and Slovakia, while the outlook for France, Spain and Portugal was adjusted downwards.
Over the next three to five years, respondents anticipate annual economic growth to pick up at an average rate of 1.7%, while the average inflation rate over the next five years is expected to be at 1.9%.
The current survey was based on reports from 295 industry experts.