German confidence index fell in June for fear debt Europe

The analysts and investor confidence in Germany fell in June to its highest level since the start of the financial crisis in 2008, hit by concerns about debt problems in the euro area. The survey found Germany ZEW research center, based in Mannheim, fell more than expected to 28.7 from 45.8 in May, their worst drop since October 2008. The forecast in a Reuters poll of analysts pointed to a dip to 42.0.
"The ZEW index illustrates the uncertainty of the current sovereign debt crisis and the latest market turmoil that has generated," said Carsten Brzeski at ING Financial Markets. "The rescue package from euro zone and the latest European Central Bank's measures to support the bond and currency markets was not yet sufficient to stabilize confidence," he said.
A separate indicator of current conditions rose to -7.9 from -21.6 in May, according to the ZEW survey of 279 analysts and investors held between 31 May and 14 June. He had expected a reading of -15.0. "The prospects are much more volatile than a month ago despite an improvement in the economic situation," said economist Peter Westerheide ZEW.