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German investor confidence hit by Ukraine crisis

Tuesday - 3/18/2014, 7:55am  ET

BERLIN (AP) -- A survey finds that German investor confidence has fallen further than expected this month on worries about the crisis in Ukraine -- but Germany's economic upturn doesn't currently appear at risk.

The ZEW institute said its monthly confidence index slid to 46.6 points from 55.7 last month. That was worse than economists' forecast of 52 points but still well above its historical average.

ZEW president Clemens Fuest says "the Crimea crisis is weighing on experts' economic expectations for Germany. Nevertheless, the indicator's level suggests that the economic upswing is currently not at risk." The index measures investors' economic outlook for the next six months; ZEW says their assessment of Germany's current situation improved.

Germany's economy is expected to grow faster this year after expanding by 0.4 percent in 2013.

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