German investor confidence down for 2nd straight month

BERLIN – German investor confidence is down for the second straight month over broad concerns about the world economy.

The ZEW institute said Tuesday its confidence index fell to 1.0 points for February, down from 10.2 points the month before and the lowest level since October 2014.

ZEW researcher Sascha Steffen says the survey of 214 financial analysts indicates “the looming slowdown of the world economy and the uncertain consequences of the falling oil prices” are causing concerns.

ING economist Carsten Brzeski says the drop in sentiment will have markets “look even closer at possible next steps by the ECB” but was little surprise.

He says: “Tumbling stock markets, a stronger euro and more general concerns about the global growth outlook have clearly dented optimism about the German economy’s growth prospects.”