Germany: Economic sentiment increases in October
Economic sentiment came in at 89.6 in October, up from September’s 89.1. As a result, the index remained entrenched below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.
The headline print reflected declining sentiment in the industrial sector and improved sentiment in the construction sector. Moreover, confidence in the services sector improved in October, whereas sentiment in the retail sector weakened in the surveyed month. Finally, consumer confidence improved in October.
Considering indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index rose in October.