By Geoffrey Smith
Investing.com -- Sentiment toward the German economy improved surprisingly in October, despite an increasingly sharp slowdown, according to the first of the month's major confidence indicators.
The ZEW think-tank's economic sentiment index rose unexpectedly to -59.2 from -61.9 in September, thanks exclusively to improved expectations. The figure is notable because of ZEW's relatively good record in the past as an indicator of turning points in the fortunes of Europe's largest economy.
However, it stands at odds with an assessment of current conditions that has gone from bad to worse, falling by more than expected to -72.2 from -60.5 a month earlier.