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Germany's economic confidence continued to improve in October, survey data from the Mannheim-based Centre for European Economic Research/ZEW showed Tuesday.
The ZEW Indicator of Economic Sentiment rose to 17.6 in October from 17.0 in the previous month. Nonetheless, the indicator still remained below the long-term average of 23.8 and the expected level of 20.
At the same time, the indicator for current situation fell unexpectedly by 0.9 points to 87.0 points in October. The score was forecast to rise to 88.5.
The financial market experts' sentiment concerning the economic development of the Eurozone decreased considerably.
The economic confidence indicator for the currency bloc dropped 5.0 points to 26.7 points in October. In contrast, the indicator for the current economic situation climbed 1.0 point to a level of 36.5 points.
