German investor confidence dips

AP News
Posted: Jun 21, 2011 5:50 AM
German investor confidence dips

A new survey shows German investors have less confidence in their nation's economy as fears over a Greek refinancing and depressed U.S. economy darken growth perspectives.

A monthly survey of forward-looking investor confidence released Tuesday showed a significant drop in June. The ZEW institute's index dropped 12.1 points to minus 9 points.

Germany's economic recovery since the economic downturn has made it a standout among the 17 eurozone countries. Growth for the full-year 2010 stood at robust 3.6 percent.

But experts at ZEW say the latest Greek bailout package coupled with unfavorable U.S. economic data "seem to have a negative impact on the assessment of the financial market experts" in June.