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Investor Confidence Plunges in Germany
Optimism among analysts and institutional investors in Germany about their country's economy plummeted 27.2 17 points from May to June the sharpest decline in more than 14 years, says the Center for European Economic Research (ZEW). The indicator is now at -16.9.
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Optimism among analysts and institutional investors in Germany about their country's economy plummeted 27.2 17 points from May to June the sharpest decline in more than 14 years, says the Center for European Economic Research (ZEW). The indicator is now at -16.9.
A separate ZEW index that measures sentiment about current economic conditions in Germany dropped 10.9 points to +33.2 in June.
The center attributes the declines to Spain's worsening financial situation and worries about the outcome of the Greek general election, which took place after the survey.
ZEW says German analysts and investors are as worried about the eurozone as they are about the domestic economy. The center's indicator of economic sentiment for the region plunged nearly 18 points to -20.1 in June. The index of confidence in current conditions in the eurozone dropped 13 points to -73.2 from May.
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