German investors confidence at the highest in 42 months

Despite uncertainties related to the US government shutdown and the discussions in Congress to rise the debt ceiling, German investors confidence rose to the highest since April ’10 in October. Zew economic sentiment index rose in October from 49.6 to 52.8, better than market expectations (51.0).

The figure is a positive sign for the IFO business confidence index due on Friday October 25th and it is in line with a 1.5%/2% annualized growth of GDP in Q4. The only negative pieces of news came from the current conditions index, declined from 30.6 to 29.7.