German economic sentiment rebounds, but current situation still dire

(Sharecast News) - Economists, analysts and finance professionals turned more positive about the outlook for the Germany economy this month, according to the closely watched ZEW Indicator of Economic Sentiment on Tuesday. The index, which tracks the sentiment of around 350 experts each month, rose to 13.1 in October, up from an 11-month low of 3.6 in September.

This was ahead of the consensus estimate of 10 but not as high as the 19.2 level registered in August.

Nevertheless, the current situation index dropped to -86.9, down from -84.5 the month before and the lowest level since the May 2020.