Investor confidence in Germany has unexpectedly fallen for the first time in six months, amid global growth concerns, and the potential impact of economic woes on the country's exports.
The Zew Center for European Economic Research in Mannheim said the widely watched Zew index fell to 53.3 in April, down from 54.8 a month earlier, and coming in below economists' expectations of 55.3.
"The German economy is in good shape," Professor Clemens Fuest, president of Zew, said.
"A stable labour market and increasing wages are strengthening confidence and boosting consumption."
"However, the current weakness of the world economy is dampening export prospects and reducing the scope for further improvements of the economic situation in Germany.