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July 10, 2018

German investor morale hits six-year low on trade angst

German investor morale hits six-year low on trade angst
FILE PHOTO: Containers are pictured at a loading terminal in the port of Kiel

BERLIN (Reuters) - The mood among German investors slumped in July to its lowest level since August 2012, a survey showed on Tuesday, weighed down by concerns about escalating trade tensions with the United States.

The ZEW research institute said its monthly survey showed economic sentiment among investors fell to -24.7 from -16.1 in June. This compared with the Reuters consensus forecast for a reading of -18.0.

A separate gauge measuring investors' assessment of the economy's current conditions fell to 72.4 from 80.6 last month. The Reuters consensus forecast was for a reading of 78.2.

"The current survey period has been marked by great political uncertainty," ZEW president Achim Wambach said in a statement.

"In particular, fears over an escalation of the international trade war with the United States have dampened the economic outlook," he added.

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