Source: Sharecast
The ZEW Indicator of Economic Sentiment, which tracks the expectations of analysts and institutional investors about Germany's economic situation, showed a increase to 39.3 in October from 37.3 in September, slightly lower than the 40.5 level pencilled in by the market.
The current situation index fell to -80 from -76.4, missing the -75 expected.
“Experts are still hoping for an upturn in the medium term," said ZEW president Achim Wambach. "Despite persistent global uncertainties and the lack of clarity regarding the implementation of the state investment programme, the ZEW indicator sees a slight increase in October."
ZEW said the outlook for export-intensive sectors has partially improved this month after the recent slump in exports to China, with expectations in the metal production, pharmaceutical, mechanical engineering industries and in the electrical equipment manufacturing sector on the rise.
However, sentiment in the automotive sector still remains weak "with a slightly deteriorating indicator", the survey found.
Expectations for the wider eurozone fell 3.4 points over the month to 22.7, while the current situation index for the single-currency region fell 3.0 points to -31.8.
