German ZEW Investor Confidence Declines For Third Month

German ZEW Investor Confidence Declines For Third Month


A measure of German investor sentiment declined for the third month in a row in July, results of a survey revealed Tuesday.
The ZEW Indicator of Economic Sentiment dropped to minus 19.6 points from minus 16.9 in June. That was slightly better than economists' forecast for a score of minus 20.
"The decline of the economic expectations concerning the end of 2012 is flattening out gently," ZEW President Wolfgang Franz said. "This could possibly be an early sign of an encouraging development in 2013."
But, the risks should not be underestimated, he warned. The German economy is weighed down by the weak demand for its exports from within Eurozone as well as from its other important partner countries that are facing slowdown in growth, he added.
The current conditions index fell to 21.1 from 33.2. Economists were looking for a score of 30.
The index of investor sentiment for Eurozone also declined in July, down to minus 22.3 from minus 20.1 in June. The current conditions index edged up 0.3 points to minus 72.9.



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