German ZEW investor confidence rose to 17.6 from 17.0, less than anticipated, but the second consecutive rise finally lifted the three months trend rate, if just slightly, for the first time since June. The current conditions indicator fell back to 87.0 from 87.9.

Confidence for banks and insurance companies dipped, while investors are less pessimistic about the automobile industry. Expectations for inflation picked up for the Eurozone, as well as Germany. However, despite this, expectations for short-term interest rates fell back for a third consecutive month.

Overall, another solid growth number confirming that the recovery remains on track, but with limited impact on the European Central Bank outlook at the moment, as the doves at the ECB remain focused on weak wage growth.


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