German investor confidence ebbs in July

FRANKFURT AM MAIN (AFP) – Confidence among investors in Germany fell back slightly in July, a regular survey published yesterday showed, as financial players’ euphoric hopes for a coronavirus recovery ebbed.

A monthly barometer measuring expectations for the coming months fell 4.1 points, to 59.3, the ZEW institute said based on a survey of 181 analysts and investors.

“There is no significant change in the outlook for the German economy this month,” ZEW Chief Achim Wambach said in a statement.

“Experts expect gradual growth in the second half of the year and in early 2021 after a very bad second quarter.”

April-June was marked by lockdowns across Europe’s top economy and much of the rest of the eurozone single currency bloc, bringing many activities to a standstill.

But as Germany and neighbouring countries emerged from virus control measures, a June surge had brought the ZEW index to its highest level since March 2006.