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German investor confidence edges up in October

© AFP/File | Germany's ZEW institute's headline barometer, which measures financial players' expectations for the coming months, added 0.6 points to reach 17.6

FRANKFURT AM MAIN (AFP) - 

Confidence among investors in Germany inched up in a monthly survey Tuesday as the dashboard of Europe's largest economy remained green, but fell short of forecasts for a big leap.

The ZEW institute's headline barometer, which measures financial players' expectations for the coming months, added 0.6 points to reach 17.6.

That was well short of the 20.0 reading predicted by analysts surveyed by FactSet, but continued the indicator's recovery from an August slump.

October's improvement was "decisively influenced by good growth figures in recent months," ZEW president Achim Wambach said in a statement.

Industrial production and new orders both beat expectations in August, he noted, while "similarly good growth figures for Europe improve conditions for German exports, which in any case are increasing strongly again."

In a poll measuring investors' mood about present economic conditions, the reading slipped slightly, suggesting the complex coalition talks forced on Chancellor Angela Merkel by September's general election are weighing on the money men's minds.

Meanwhile, ZEW's survey on the outlook for the eurozone in the coming months showed a big slide, losing 5.0 points to reach 26.7, while investors' confidence about the present situation for the 19-nation single currency zone firmed slightly.

The Mannheim-based institute questioned 205 analysts and institutional investors to compile its survey.

© 2017 AFP