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BERLIN (AP) — A survey shows investor confidence in Germany, Europe's biggest economy, has fallen for the seventh consecutive month as concern about the fallout from the Volkswagen scandal adds to worries about weak growth in emerging economies.
The Center for European Economic Research, known by its German acronym ZEW, said Tuesday that its monthly index dropped to 1.9 points for October from 12.1 last month. That's below the long-term average of 24.8 points and off a peak in March of 54.8.
ZEW chief Clemens Fuest said that, while the VW emissions-rigging scandal and emerging market weakness have dampened the economic outlook, "the performance of the domestic economy is still good and the euro area economy continues to recover," making a recession unlikely.
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