Germany October ZEW Economic Sentiment Drops to 28.1 Despite Improving Current Conditions

Germany's ZEW economic sentiment index fell to 28.1 in October, down from 34.7 in September and missing consensus expectations, which sources reported as 30.0 and 31.6. The expectations gauge hit its softest level since July amid concerns over weak private consumption and elevated energy costs. In contrast, Germany's current conditions index rose by 11.2 points to -35.9 from -47.1, outperforming forecasts of -45.0. Additionally, the broader Eurozone economic sentiment index declined from 25.8 to 18.5, below the 24.2 forecast, keeping pressure on the euro.