Germany's ZEW indicator of investor sentiment dips, shrugs off Greece, Chinese market plunge

Economic Indicators Associated Press

Investor optimism about Germany decreased by only a little in July, as the crisis in Greece and falling stocks in China had little effect.

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The ZEW indicator of economic sentiment fell only 1.8 points, to 29.7 points. It remains above its long-term average of 24.9 points.

ZEW head Clemens Fuest said Tuesday that neither Greece nor China seemed to hurt the outlook among the investment analysts surveyed for the index. He said that "despite the slight decline of the indicator, the overall economic outlook for Germany remains positive."

The indicator was based on responses from 223 investment analysts June 29-July 13.

Germany's economy remains in relatively robust shape despite the difficulties of the 19-country eurozone. Unemployment is low and gross domestic product grew by 0.3 percent in the first quarter.