Further decline in German investor morale

Further decline in German investor morale

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Further decline in German investor morale

BERLIN (Reuters) – Tuesday’s survey showed that Investor sentiment in Germany It deteriorated for the third month in a row in August on fears that the recovery in Europe’s largest economy would stall due to an increase in COVID-19 infections and a fourth wave of coronavirus infections.
Germany recorded more than 3,000 cases per day last week, bringing the total to 3.79 million. The number of deaths in Germany rose to 91,803. And the rate of injuries in seven days nationwide rose today to 23.5 per 100,000 people, compared to 23.1 on Monday.
The ZEW Institute for Economic Research said its index of investor sentiment fell to 40.4 points from 63.3 points the previous month. A Reuters poll had expected a drop to 56.7 points.
“This indicates increased risks to the German economy, such as risks from a possible fourth wave of COVID-19 starting in the fall or a slowdown in growth in China,” ZEW President Achim Wambach said in a statement.
A separate measure of current conditions rose to 29.3 from 21.9 in July. Compared to the average forecast at 30 points.