German economic indicator beats forecasts

The ZEW institute's expectations indicator for Germany jumped 8.4 points to 60

The ZEW institute's expectations indicator for Germany jumped 8.4 points to 60.9 in September, its ninth rise in a row and beating analysts' expectations for a reading of 59.0.

"Germany is already showing the first signs of a possible economic upturn. Industrial output and domestic orders rose in July, while net exports rose sharply in the month," ZEW said in a statement.

However, the Mannheim-based institute said the current conditions indicator remained in negative territory at minus 91.7 points versus minus 92.6 in August.

Its expectations indicator for the euro zone climbed to 69.6 points from 58.1 in August.