Germany’s ZEW Indicator of Economic Sentiment was reported at a level of 13.1 in October from 3.6 in September. The latter has been the lowest reading since October 2023.
The figure exceeded a consensus of analyst estimates of 10.
The latest result was mostly attributed to “expectation of stable inflation rates and the associated prospect of further interest rate cuts by the ECB. Positive signals are also coming from Germany’s export markets,” according to ZEW President Professor Achim Wambach.
“Economic expectations for the Eurozone, the USA, and China have also significantly improved. The increased optimism for China is likely linked to the Chinese government’s economic stimulus measures,” Wambach added.
The Euro was last 0.26% weaker on the day against the British Pound, with the EUR/GBP currency pair trading at 0.8330.
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