BERLIN - The mood among German investors deteriorated far more than expected in February on worries that the coronavirus outbreak that started in China would dampen world trade, a survey showed on Tuesday.
The ZEW research institute said its monthly survey showed economic sentiment among investors fell to 8.7 from 26.7 in January. Economists had expected a drop to 21.5.
A separate gauge measuring investors' assessment of the economy's current conditions decreased to -15.7 from -9.5. Analysts had forecast a reading of -10.3.
"The feared negative effects of the coronavirus epidemic in China on world trade have been causing a considerable decline of the indicator of economic sentiment for Germany," said ZEW President Achim Wambach.
"Expectations regarding the development of the export-intensive sectors of the economy have dropped particularly sharply," he added.
(Reporting by Joseph Nasr Editing by Michelle Martin) ((joseph.nasr@thomsonreuters.com; +49 30 2888 5075; Reuters Messaging: joseph.nasr.reuters.com@reuters.net www.twitter.com/REUTERS_DE www.reuters.de))
