German investor moral drops on concerns over second coronavirus lockdown

BERLIN, Nov 10 (Reuters) - German investor sentiment fell more than expected in November as a second wave of coronavirus infections and a partial lockdown to contain the disease increased uncertainty about the outlook for Europe’s largest economy, a survey showed on Tuesday.

The ZEW economic research institute said its survey of investors’ economic sentiment fell to 39.0 points from 56.1 points the previous month. That undershot a Reuters poll for a reading of 41.7.

“Financial experts are concerned about the economic impact of the second wave of COVID-19 and what this will entail,” ZEW President Achim Wambach said in a statement, adding that the data pointed to an economic slowdown in the fourth quarter.

“There is also the additional worry that the German economy could head back into recession,” Wambach added.

A separate gauge of current conditions dropped to -64.3 from -59.5 points the previous month. That compared with a consensus forecast of -65.0 points. (Reporting by Michael Nienaber Editing by Michelle Adair)