German investor confidence dropped again in June, the sixth consecutive month, thereby missing economists' expectations, a survey found on Tuesday.
The Center for European Economic Research (ZEW) in Mannheim said in its monthly release that its indictor for German economic expectations fell by 3.3 points to stand at 29.8 points in June.
The decline was "notably less significant" than a decrease in May, when the indicator dropped by 10.1 points, according to the think tank, but missed economists' expectation that investors' confidence would improve this month.
"The German economy is currently in a very good shape, but further increases are becoming more difficult," said ZEW president Prof. Clemens Fuest.
"We had a strong first quarter in 2014 due to favorable weather conditions, but signs are that the second quarter will be weaker. This trend is also reflected in the slight decrease of the ZEW economic expectations," he said.
German GDP increased by 0.8 percent in the first quarter of 2014, doubling the growth in the last three month of 2013. The German central bank, however, forecast that the growth would slow down markedly in the second quarter.
In May, the number of Germans out of work unexpectedly increased in adjusted terms, despite the fact that its unemployment rate remains as one of the lowest in the eurozone.
In 2014, the German economy is expected to expand by 1.8 percent, followed by a growth of 2 percent in 2015.