BERLIN – A survey shows that German investor confidence fell for the seventh consecutive month in July, in another indication that Europe's biggest economy may be coming off the boil.
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The ZEW institute said Tuesday that its monthly confidence index, which measures investors' economic outlook for the next six months, fell to 27.1 points from 29.8 in June. That was a steeper fall than economists predicted.
ZEW president Clemens Fuest said recent data had a sobering effect but that "the medium-term economic outlook remains favorable."
Germany's economy grew a robust 0.8 percent in the first quarter compared with the previous three-month period, but recent data have fuelled expectations of slower second-quarter growth. Factory orders and industrial production in May were below expectations amid slowing growth in China and tensions over Ukraine.