German investor sentiment held steady in October, a survey showed today.
The Mannheim-based ZEW research institute said its economic sentiment indicator, based on a survey of 278 analysts and institutional investors, was unchanged this month from September at -18.1.
"The almost unchanged economic expectations indicate that the most pressing downward corrections following the crisis on the financial markets seem to have come to an end," the ZEW said.
The mid-range forecast in a Reuters survey of 47 economists polled last week was for an October reading of -22.0, with forecasts ranging from -30.0 to -5.0.
A separate gauge of conditions for Germany fell to 70.2 this month from 74.4 in September. The consensus forecast was for a reading of 70.0.
The ZEW survey was conducted between October 1 stand October 15th.
A measure of expectations for the euro region rose to -19.0 after -20.3 the previous month, the ZEW said.