German confidence takes a dip

A survey of investors published yesterday by the ZEW Institute in Mannheim suggested that Germany's recovery might falter as the country feels the effect of higher interest rates, nervous financial markets and a stronger euro.

The institute's much-watched "economic sentiment" index fell for the second consecutive month, dropping from 20.3 points in June to 10.4 points this month. The index is designed to indicate future trends in activity, and its fall - much larger than anticipated - could si