India, Oct. 20 -- German economic confidence deteriorated more than expected in October as private spending and investment remained weak due to high energy prices, survey results from the Mannheim-based Centre for European Economic Research, or ZEW, showed Tuesday.
The economic confidence index fell to a three-month low of 28.1 in October from 34.7 in the previous month. The score was forecast to drop to 30.2.
"The German economy is slowly emerging from stagnation, but the recovery is not self-sustaining," ZEW President Achim Wambach said.
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