|German investor sentiment down to 8-month low due to Ukraine crisis
Investment sentiment in Germany hit its lowest level for eight months in April amid uncertainty about the fallout for Europe's top economy from the crisis in Ukraine, a survey found on Tuesday.
The widely watched investor confidence index calculated by the ZEW economic institute fell by 3.4 points to 43.2 points in April, the lowest level since August 2013, it said in a statement.
"The cautious expectations in this month's survey are likely to be caused by the Ukraine conflict, which still creates uncertainty,'' said ZEW president Clemens Fuest.
"Furthermore, the slight decline in economic expectations has taken place against the backdrop of a very positive evaluation of the current economic situation in Germany,'' Fuest said.
For the survey, ZEW questions analysts and institutional investors about their current assessment of the economic situation in Germany, as well as their expectations for the coming months.
The sub-index measuring financial market players' view of the current economic situation in Germany rose by 8.2 points to 59.5 points in April, its highest level since July 2011.
A frequent criticism of the ZEW index is that it can be volatile and is therefore not particularly reliable. --AFP