Investor confidence in Germany’s economy improved for a second month, while lingering at a level that will do little to dispel intensifying concerns over the country’s status as Europe’s growth laggard.

The ZEW institute’s gauge of expectations rose to -11.4 in September from -12.3 in August. While that’s better than economists in a Bloomberg survey had predicted, it’s still well below a longer-term average for the indicator. An index of current conditions worsened to -79.4.

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German Investor Outlook Improves But Still Signals Weak Momentum