German ZEW economic sentiment improves dramatically in October

The German business morale showed a dramatic improvement and jumped way above expectations in October, following muted September’s reading, a ZEW survey showed on Tuesday.

The headline ZEW economic sentiment came in at 6.2 in October, much higher than 0.5 points booked in September, beating markets’ expectations of a 4.0 reading.

The current situations sub-indicator also improved to 59.5 points in Oct, up from September’s 55.1, bettering expectations of an increase to 55.5 points.