German investor morale plummets in June
MANNHEIM, Germany, June 17
MANNHEIM, Germany, June 17 (Reuters) - German analyst and investor morale dropped in June for a sixth straight month to its lowest level in about 1-1/2 years, a leading survey showed on Tuesday in a sign that second-quarter growth in Europe's biggest economy may weaken.
Mannheim-based think tank ZEW's monthly survey of economic sentiment fell to 29.8 from 33.1 in May, falling well short of the consensus forecast in a Reuters poll for a rise to 35.0.
A separate gauge of current conditions increased to 67.7 from 62.1 points in May to its highest level since July 2011, overshooting the consensus forecast for a reading of 62.6.
"The German economy is currently in a very good shape, but further increases are becoming more difficult," said ZEW president Clemens Fuest.
"We had a strong first quarter in 2014 due to favourable weather conditions, but signs are that the second quarter will be weaker."
The index was based on a survey of 234 analysts and investors conducted between June 2 and 16, ZEW said. (Reporting by Michelle Martin and Harro Ten Wolde; Writing by Madeline Chambers; Editing by Stephen Brown)