German investor confidence falls again in September: ZEW

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German investor confidence fell to the lowest level for nearly three years in September, weighed down by the eurozone debt crisis and concern about a global slowdown, the ZEW indicator showed on Tuesday.

The closely watched ZEW economic expectations index fell by 5.7 points to stand at minus 43.3 points, far below the indicators historical average of 25.6 points. In August, it had already plummeted by a whopping 22.5 points.

"The last time the index was lower than this was in December 2008," ZEW said in a statement.

"The smouldering debt crisis in a number of eurozone countries and fears for a renewed weakening of the global economy are behind the drop," said ZEW chief Wolfgang Franz.

© 2011 AFP

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