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German ZEW Economic Sentiment Rises More Than Expected

German economic sentiment improved more-than-expected in September, survey data from the Centre for European Economic Research, or ZEW, showed Tuesday.

The economic sentiment indicator climbed to -10.6 from -13.7 in August, the Mannheim-based think tank said. Economist had expected a modest improvement in the index to -13.5.

The current conditions index rose to 76 from 72.6 in August. Economists had expected a lower reading of 72.

"During the survey period, the currency crises in Turkey and Argentina intensified, while German industrial production and incoming orders were surprisingly low in July," ZEW President Achim Wambach said.

"Despite these unfavorable circumstances, economic expectations for Germany improved slightly."

"The considerable fears displayed by the survey participants regarding the economic development have diminished somewhat, which may in part be attributable to the new trade agreement between the USA and Mexico," Wambach added.

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