The economics confidence in Germany increases, reaching its highest level since January 2016. The assessment of current economic conditions grows by 4.4 points to 59.5 points in October, while economics expected a value of 55.5 points. In July, which is the month immediately following the British referendum for leaving the European Union, the economics confidence recorded a sharp drop to 49.8 points.
The index, which tracks the expectations for the future in German economy, also grew above forecasts, from 0.5 points in September to 6.2 points in October, while expectations were for a value of 4 points.
The expectations for economic development in the Eurozone also increased significantly by 6.9 points to 12.3 points. On the other hand, the index for the current situation in the euro area recorded a decline of 2.3 points to -12.8 points.
The approved economic attitudes in Germany in October are signal for stable economic activity, but the positive impulses from industry and exports should not distract us from the political and economic risks. However, the afraid for the banking sector continue to weight over the perspectives of the economy.
Live Financial Chart
- CFD Service
* Your capital is at risk
Index of 30 biggest German companies trading on the Frankfurt Stock ExchangeView full details
Trade Germany 30 now!
* The prices shown are CFDs offered by Plus500 and are NOT market prices.