Survey finds German investor optimism on the rise

A European flag waves in front of the Reichstag building with the inscription 'Dem deutschen Volke' ('To The German People') in Berlin, Germany, Thursday, Aug. 23, 2012. Official data show that Germany posted a budget surplus for the first half of this year thanks to its strong labor market, even as other eurozone countries struggle with deficits.
AP Photo/Markus Schreiber

FRANKFURT, Germany - A closely-watched survey of investor optimism in Germany rose in October, in an upbeat sign for the eurozone's largest economy.

The ZEW survey rose by more than expected to minus 11.5 from minus 18.2 in September. Markets had expected a reading of minus 14.9.

The ZEW, or the Center for European Economic Research, said Tuesday that the results show "that risks for the German economy have somewhat diminished."

Germany has kept on growing despite the debt problems afflicting a number of countries that use the euro. But it is going through a shaky patch because the troubled eurozone countries are major trading partners.

Germany grew only 0.3 percent in the second quarter and economists differ over whether the economy could shrink slightly in the latter part of this year.