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The mood of German investors fell in July to its lowest level since August 2012, a survey Tuesday revealed, amid concerns over growing trade tensions with the United States.
The German flag is seen in Berlin 02/07/2018 REUTERS / Hannibal Hanschke
Photo: Reuters
The ZEW Research Institute said its monthly survey showed that economic sentiment among investors fell to -24.7 from -16.1 in June. This compares to the Reuters forecast for a reading of -18.0.
A separate measure measuring the valuation of investors in the current economic situation rose from 80.6 to 72.4. The expectation was a reading of 78.2
"The current research period has been marked by great political uncertainty," said Achim Wambach, president of the ZEW. "In particular, fears of an intensification of the international trade war with the United States have affected the economic outlook."
Wambach added that the positive news on industrial production, orders received and the German labor market were "very eclipsed"
Last week, Finance Minister Olaf Scholz warned that US President Donald Trump to impose tariffs on goods imported from trading partners such as China and the European Union would harm everyone
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