German investors confidence falls unexpectedly in AprilStaff writer ▼ | April 22, 2015
The confidence of German investors fell unexpectedly in April after rising for five months in a row, a survey new found.
Europe Center for European Economic Research:
Compared to the previous month, the reading declined by 1.5 points to 53.3 points, it said. The survey was based on 238 market analysts. Previously, economists expected the ZEW indicator to increase for the six consecutive month since October last year.
"The current weakness of the world economy is dampening export prospects and reducing the scope for further improvements of the economic situation in Germany," ZEW President Clemens Fuest said in a statement.
Meanwhile, "The German economy is in good shape. A stable labour market and increasing wages are strengthening confidence and boosting consumption," he added.
Investors' assessment of the current situation in Germany improved in April. The corresponding index increased by 15.1 points to 70.2 points.
According to German government's forecast, Europe's biggest economy would grow by 1.5 percent in current year thanks mainly to a robust private consumption. ■