Germany’s investor confidence decreased slightly in October, defying expectations for a steep fall, survey data from the ZEW – Leibniz Centre for European Economic Research in Mannheim showed on Tuesday.
The ZEW Indicator of Economic Sentiment for Germany dropped to -22.8 from -22.5 in September. Economists had forecast a score of -27.
The reading remains below its long-term average of 21.4.
The current assessment indicator of the survey fell by 5.4 points to -25.3, which is the lowest since April 2010.
“The slight decrease in both the ZEW Indicator of Economic Sentiment and the situation indicator shows that financial market experts continue to expect a further deterioration of the German economy,” ZEW President Achim Wambach said.
“The recent settlement in the trade dispute between the USA and China does not seem to diminish economic skepticism at this stage.”
The Eurozone investor confidence index of the survey fell 1.1 points to -23.5 points.
The material has been provided by InstaForex Company – www.instaforex.com
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