Economics
German ZEW Investor Sentiment Deteriorates in Brexit Aftermath
- Gauge for expectations falls to minus 6.8 in July from 19.2
- ZEW says Brexit mainly responsible for decline in confidence
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German investor confidence deteriorated in July on concern that Britain’s decision to leave the European Union could weaken the region’s fragile economic recovery.
The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months ahead, fell to minus 6.8 from 19.2 in June. That’s the lowest level since November 2012. Economists in a Bloomberg survey predicted a drop to 9.