Investor confidence in Germany down in June

Frankfurt

GERMAN investor confidence fell for a third month as the risk of a Greek debt default stoked uncertainty in Europe's largest economy.

The ZEW Centre for European Economic Research in Mannheim said that its index of investor and analyst expectations, which aims to predict economic developments six months in advance, slid to 31.5 in June from 41.9 in May. That's the lowest level since November. Economists had forecast a decline to 37.3, according to the median of 36 estimates in a Bloomberg survey.