Confidence in Europe's largest economy increased in October, but less than economists had expected, data from the ZEW institute showed Tuesday.
The survey of analysts' expectations from the Center for European Economic Research, known by its German initials of ZEW, rose to 17.6 in October from 17.0 the previous month, the data showed. Surveyed economists had expected the indicator to rise to 20.4.
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"The improved outlook for the coming six months is not least the result of the surprisingly positive growth figures seen in the previous months," said ZEW president Achim Wambach in a press release. He added that growth figures in Europe were improving conditions for German exporters.
The institute's indicator for current conditions fell slightly to 87.0 from 87.9.
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(END) Dow Jones Newswires
October 17, 2017 05:40 ET (09:40 GMT)