June 12, 2018 / 9:22 AM / 9 months ago

German investor morale slumps on trade, Italy concerns

BERLIN, June 12 (Reuters) - The mood among German investors tumbled in June to its lowest level since September 2012, a survey showed on Tuesday, weighed down by concerns about the impact of an escalation in a trade dispute with the United States.

The ZEW research institute said its monthly survey showed economic sentiment among investors fell to -16.1 from -8.2 in May. This was a steeper drop than the Reuters consensus forecast reading of -14.0.

A separate gauge measuring investors’ assessment of the economy’s current conditions edged down to 80.6 from 87.4 last month. The Reuters consensus forecast was for a reading of 85.0.

“The latest escalation in the trade dispute with the United States and fears about policies by the new Italian government that could destabilize the financial system are leaving their mark on the outlook for Germany “, ZEW president Achim Wambach said in a statement. (Reporting by Joseph Nasr Editing by Madeline Chambers)

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