German investor optimism undeterred by Greece
Jul 14, 2015, 4:42 AM
German Chancellor Angela Merkel, third right, attends a leaders meeting of her Christian Democratic Union party, CDU, at the party's headquarters in Berlin, Germany, Monday, July 13, 2015. A summit of eurozone leaders reached a tentative agreement with Greece on Monday for a bailout program that includes "serious reforms" and aid, removing an immediate threat that Greece could collapse financially and leave the euro. (AP Photo/Markus Schreiber)
(AP Photo/Markus Schreiber)
FRANKFURT, Germany (AP) — Investor optimism about Germany decreased by only a little in July, as the crisis in Greece and falling stocks in China had minimal effect.
The ZEW indicator of economic sentiment fell only 1.8 points, to 29.7 points. It remains above its long-term average of 24.9 points.
ZEW head Clemens Fuest said Tuesday that neither Greece nor China seemed to hurt the outlook among the investment analysts surveyed for the index. He said that “despite the slight decline of the indicator, the overall economic outlook for Germany remains positive.”
The indicator was based on responses from 223 investment analysts June 29-July 13.
Germany’s economy remains in relatively robust shape despite the difficulties of the 19-country eurozone. Unemployment is low and gross domestic product grew by 0.3 percent in the first quarter.
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