German sentiment strengthens in pre-US default scare data

Some hope for the German economy if we stay optimistic and assume that a US default can be avoided. The survey data below does not include the greater impact from US debt woes.

The ZEW survey for October shows economic sentiment up from 49.6 to 52.8, while analysts had expected no change. That's the strongest since April 2010.

Assessment of the current situation dropped slightly, from 30.6 to 29.7. Economists had expected a jump to 31.0.