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German investor confidence slumps

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German investor confidence slumps

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German investor confidence plunged in June on concern that the sovereign debt crisis will undermine growth prospects in Europe’s biggest economy.

The Mannheim-based ZEW institute said its index of investor and analyst expectations slumped to 28.7 from 45.8 in May.

That is the biggest decline since October 2008 when sentiment was hit by the collapse of Lehman Brothers.

For now, Germany’s economy shows few signs of problems, with unemployment falling as companies ramped up production.