German investor sentiment deteriorates more than expected in April

(Sharecast News) - German investor sentiment deteriorated more than expected in April, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim. The ZEW economic expectations indicator fell to -17.2 from -0.5 in March, coming in below consensus expectations for a reading of -5.0.

Meanwhile, the index for the current situation declined to -73.7 in April from -62.9 the month before.

ZEW President Achim Wambach said: "Economic expectations are slipping into negative territory. The economic consequences of the Iran war for the German economy go far beyond price increases: businesses are concerned about long-term shortages of energy supply, and this discourages investment and weakens the effect of government stimuli."