Fear of low growth in Germany leads to fall in investor confidence
Frankfurt am Main — Confidence among German investors plunged in August, a monthly survey showed on Tuesday, as fears for growth prospects in Europe’s largest economy made themselves felt. The ZEW institute’s closely-watched barometer fell to 10.0 points in August from 17.5 in July, well short of the 15.0 points predicted by analysts surveyed by data company Factset. "The very significant fall in business expectations reflects nervousness about the future path of growth in Germany," ZEW chief Achim Wambach said in a statement. "Above all, weaker-than-expected growth in exports and the growing scandal in the car industry contributed," he added. German exports booked an unexpected fall in June, figures released earlier in August showed. Meanwhile, widening suspicion over diesel emissions cheating has prompted politicians to moot draconian measures to reduce air pollution, casting a pall over the country’s vital vehicle sector. Looking to other elements of the survey, financial players...
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