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German investor confidence down further

German investor confidence down further

A survey shows that investor confidence in Germany has slipped further amid expectations that growth momentum in Europe's biggest economy has peaked.
The ZEW institute said Tuesday that its index was down to 3.1 points for May from 7.6 in April. That leaves it well below its historical average of 26.5.
Official data last week showed that the economy grew by an impressive 1.5 percent in the first quarter over the previous three-month period.
But ZEW says that market experts "consider a further increase of the economic momentum to be unlikely."
It says mixed signals on the state of the U.S. economy and a weaker outlook for fast-growing China may also have dampened expectations. The institute notes in addition that the eurozone debt crisis may pose risks.


Updated : 2021-05-09 16:40 GMT+08:00