German investor sentiment falls more than expected

German investor sentiment fell more than expected in October, another sign that the Eurozone's debt crisis is weighing on growth even in the region's largest economy, a survey showed Tuesday.

The ZEW institute said its survey index fell to minus 48.3 points from minus 43.3 points in September, whereas markets were predicting a drop to only minus 45.0.

Expectations for the German and Eurozone economies have darkened because of the Eurozone debt crisis and slowing growth in key emerging markets that are destinations for export goods.

Eurozone leaders are trying to come up with more concrete steps to address the crisis over too much debt in some countries, with fears that a bond default will hurt banks and the economy. Steps under consideration include reducing Greece's debt and putting more money in banks to offset losses from that.

But officials in Germany have downplayed hopes for a comprehensive solution by an upcoming European summit October 23.

The ZEW is based on a survey of 271 analysts and institutional investors.