(ZEW) The gauge of expectations on Germany’s recovery fell to 40.4 in August, from 63.3 in July, the lowest since November last year.
The fall in Germany’s investor confidence reflects the continued growth of Covid-19 infection cases, which has raised concerns of possible tightening of restrictions.
Zew Institute’s President Achim Wambach warned of “increasing risks” to the economy, despite a measure of current conditions showing improvements.
Investor confidence was also weighed down by global supply bottlenecks that have pushed up prices in the last months.
Germany’s Bundesbank predicts an uptick in growth this quarter following output expansion of 1.5% in the quarter ending June.
DAX is up +0.22%, EURUSD is down -0.12%.
