The ZEW Indicator of Economic Sentiment for Germany climbed 22.8 points from the previous month to 51.0 in May 2020, the highest reading since April 2015 and well above market expectations of 32.0. Investors grew optimistic about a possible economic turnaround from summer onwards and saw activity growth to pick up pace again in the fourth quarter of 2020, although the catching-up process will take a long time. Meanwhile, the assessment of the current economic situation continued to worsen, with the corresponding indicator dropping 2.0 points to -93.5.

Zew Economic Sentiment Index in Germany averaged 21.14 from 1991 until 2020, reaching an all time high of 89.60 in January of 2000 and a record low of -63.90 in July of 2008. This page provides the latest reported value for - Germany Zew Economic Sentiment Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Zew Economic Sentiment Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany is expected to be -30.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Zew Economic Sentiment Index in Germany to stand at -12.00 in 12 months time. In the long-term, the Germany Zew Economic Sentiment Index is projected to trend around -17.00 in 2021 and -8.00 in 2022, according to our econometric models.

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Germany Zew Economic Sentiment Index

Actual Previous Highest Lowest Dates Unit Frequency
51.00 28.20 89.60 -63.90 1991 - 2020 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-18 10:00 AM Feb 8.7 26.7 21.5 19
2020-03-17 10:00 AM Mar -49.5 8.7 -26.4 -26
2020-04-21 09:00 AM Apr 28.2 -49.5 -42.3 -42.8
2020-05-19 09:00 AM May 51 28.2 32 32
2020-06-16 09:00 AM Jun 51 30
2020-07-14 09:00 AM Jul
2020-08-11 09:00 AM Aug
2020-09-15 09:00 AM Sep -28


News Stream
German Investor Morale Hits 5-Year High
The ZEW Indicator of Economic Sentiment for Germany climbed 22.8 points from the previous month to 51.0 in May 2020, the highest reading since April 2015 and well above market expectations of 32.0. Investors grew optimistic about a possible economic turnaround from summer onwards and saw activity growth to pick up pace again in the fourth quarter of 2020, although the catching-up process will take a long time. Meanwhile, the assessment of the current economic situation continued to worsen, with the corresponding indicator dropping 2.0 points to -93.5.
2020-05-19
German Investor Morale Beats Forecasts
The ZEW Economic Sentiment Index for Germany jumped by 77.7 points to 28.2 in April 2020 from an eight-year low in the previous month and well above market expectations of -42.3. It was the largest monthly increase since the survey began in December 1991, after posting a record fall during March. Investors started "to see a light at the end of the very long tunnel", but do not expect to see positive economic growth until the third quarter of 2020, while economic output will probably return to pre-corona levels only after 2022. Meanwhile, the assessment of the current economic situation worsened dramatically, with the corresponding indicator dropping 48.4 points to -91.5. This constellation of values currently witnessed for expectations and the assessment of the current situation roughly corresponds to that seen in April/May 2009 during the financial crisis.
2020-04-21
German Investor Morale Tumbles to 8-Year Low
The ZEW Economic Sentiment Index for Germany plunged by 58.2 points to -49.5 in March 2020, the lowest level since December 2011 and well below market expectations of -26.4. It was also the largest drop since the survey was started in December 1991, as coronavirus worries rattle global markets. German GDP is seen contracting in the first half of the year, and expectations for 2020 as a whole point to a decline in real GDP growth of approximately one percentage point as a result of the Covid-19 pandemic. The assessment of the economic situation in Germany has also worsened significantly, falling by 27.4 points to -43.1 points. This combination of strongly negative values for the indicators of both the economic sentiment and the assessment of the current situation has only been witnessed during the financial crisis in autumn of 2008.
2020-03-17
German Investor Morale Deteriorates in February
The ZEW Indicator of Economic Sentiment for Germany fell 18 points from the previous month to 8.7 in February 2020, well below market forecasts of 21.5 as investors continued to worry about the impact of coronavirus outbreak on the world trade. Expectations of the export-intensive sectors development dropped sharply and the assessment of the economic situation declined 6.2 points to -15.7.
2020-02-18

Germany Zew Economic Sentiment Index
In Germany, the ZEW Economic Sentiment Index measures the level of optimism that analysts have about the expected economic developments over the next 6 months. The survey covers up to 350 financial and economic analysts. The index is constructed as the difference between the percentage share of analysts that are optimistic and the percentage of analysts that are pessimistic about the development of the economy. Therefore, the ZEW indicator measures the confidence on a scale of -100 (all analysts expect the economy to deteriorate) up to 100 (all analysts expect it to improve). A 0 value indicates neutrality.