Investing.com - German economic sentiment improved in October, hitting the highest level in five months, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment improved by 6.7 points to minus 11.5 in October from September’s reading of minus 18.2.
Analysts had expected the index to improve by 3.2 points to minus 15.0 in October.
The Current Situation index declined to 10.0 in October from 12.6 in September, compared to expectations for a decline to 11.8.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, economic sentiment in the euro zone improved slightly, but remained in negative territory for the sixth consecutive month in October.
The index of euro zone economic sentiment rose by 2.4 points to minus 1.4 from a reading of minus 3.8 in September.
Economists had expected euro zone economic sentiment to improve by 2.7 points to minus 1.1 in October.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD rising 0.4% to trade at 1.3000.
Meanwhile, European stock markets held on to gains following the data. The EURO STOXX 50 rose 0.85%, France’s CAC 40 added 0.5%, Germany's DAX climbed 0.6%, while London’s FTSE 100 gained 0.5%.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment improved by 6.7 points to minus 11.5 in October from September’s reading of minus 18.2.
Analysts had expected the index to improve by 3.2 points to minus 15.0 in October.
The Current Situation index declined to 10.0 in October from 12.6 in September, compared to expectations for a decline to 11.8.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
Meanwhile, economic sentiment in the euro zone improved slightly, but remained in negative territory for the sixth consecutive month in October.
The index of euro zone economic sentiment rose by 2.4 points to minus 1.4 from a reading of minus 3.8 in September.
Economists had expected euro zone economic sentiment to improve by 2.7 points to minus 1.1 in October.
Following the release of that data, the euro remained higher against the U.S. dollar, with EUR/USD rising 0.4% to trade at 1.3000.
Meanwhile, European stock markets held on to gains following the data. The EURO STOXX 50 rose 0.85%, France’s CAC 40 added 0.5%, Germany's DAX climbed 0.6%, while London’s FTSE 100 gained 0.5%.