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Investor Optimism Fades in Germany
Germany's investor community is slightly more positive about the country's current economic conditions than it was in April.
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Germany's investor community is slightly more positive about the country's current economic conditions than it was in April. But investor confidence in conditions six months from now has dropped sharply, according to the Center for European Economic Research (ZEW).
The center says this month's decline the first this year may reflect growing concern that this month's elections in France and Greece make it less likely that European governments will resolve the region's sovereign debt crisis.
ZEW's index of the current situation in Germany rose 3.4 points to +44.1 from April to May. But the measure of sentiment about economic conditions six months from now plunged 12.6 points to +10.8. A positive index means investors as a group remain more optimistic than pessimistic.
More broadly, Germany's investors are increasingly concerned about Europe's economic health. ZEW's index for current eurozone conditions plunged 11.2 points to -60.2 from April to May. The region's longer-term outlook index slipped 2.4 points to -15.5.
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