By Maria Martinez
Expectations for economic growth in Germany showed a modest improvement in October, data from the ZEW economic research institute showed Tuesday.
The index of economic expectations rose to minus 59.2 in October from minus 61.9 in September. Economists polled by The Wall Street Journal had projected the index declining to minus 65.0.
Despite the slight rise in expectations, the economic outlook for Germany has deteriorated significantly, the report showed.
The index gauging current conditions fell sharply to minus 72.2 in October from minus 60.5 in September, below economists’ expectations of minus 68.0.
The probability that real GDP will decline in the course of the next six months has also increased considerably, said ZEW President Achim Wambach in the report. “Overall, the economic outlook has deteriorated again,” he said.
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