ZEW index of investment professionals falls for third consecutive month as Greece frays nerves

Economic Indicators Associated Press

A survey of investment professionals shows optimism about the German economy slipped for a third month in a row on worries about more financial trouble with Greece.

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The ZEW institute index fell to 31.5 points for June from 41.9 in May. That fell short of the consensus market expectation for 37.3

ZEW President Clemens Fuest said Tuesday that sentiment was held down by "the ongoing uncertainty over Greece's future and the restrained dynamic of the global economy."

Eurozone governments are in difficult talks with Greece over the conditions for more bailout money. Greece is running out of cash to pay its bills in a long-running financial and economic crisis.

The ZEW index nonetheless remains above its long-term average of 24.9 points.