The German ZEW Indicator of Economic Sentiment remains almost unchanged in October 2009. It slightly declines by 1.7 points and now stands at 56.0 points after 57.7 points in the previous month. This value is still well above the indicator's historical average of 26.7 points.

ZEW is the German Institute for European Economic Research.

It was expected that the victory of centre right parties in the German general election, in September, would have boosted confidence among analysts and economists.

The current assessment of the financial market experts has likely been influenced by various issues. Once again the increase in incoming orders should have had a positive impact. The recent decline of exports in August, however, should have weakened economic expectations for Germany. Furthermore, it is still uncertain how private consumption will develop over the next months, according to ZEW.

"The assessment of the financial market experts reflects the prevalent opinion. The economy will improve only gradually," said. ZEW President Prof. Wolfgang Franz.

The assessment of the current economic situation in Germany is still very poor and is improving slowly. The corresponding indicator rises slightly by 1.8 points to minus 72.2 points.

The economic expectations for the Eurozone fell  in October by 2.7 points compared to the previous month. The respective indicator now stands at 56.9 points.

The indicator for the current economic situation in the Eurozone improved by 2.5 points and now stands at minus 75.4 points.

288 Analysts participated in the October-survey which was conducted during the period 28/9 - 10/12/2009.

Analysts were asked about their expectations for the next 6 months.