By Maria Martinez
(Reuters) -German investor morale rose less than expected in October as a long-awaited recovery in Europe’s biggest economy faces continued delays.
The economic sentiment index rose to 39.3 points from 37.3 points in August, the ZEW economic research institute said on Tuesday. Analysts polled by Reuters had pointed to a reading of 41.0.
“Experts are still hoping for an upturn in the medium term,” said ZEW president Achim Wambach, pointing to the increase despite persistent global uncertainties and a lack of clarity regarding the implementation of the state investment programme.
In contrast, assessments of the current economic situation continue to follow a negative trend, falling to minus 80.0 points from minus 76.4 in the previous month.
The score is based on a survey of 177 financial analysts at banks, insurers and industrial companies between Oct. 6 and Oct. 13. Within a range of minus 100 to plus 100, it measures expectations on the country’s future economic development.
(Writing by Friederike HeineEditing by Ludwig Burger and Madeline Chambers)
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