The ZEW Indicator of Economic Sentiment for Germany rose by 6.8 points from the previous month to 61.8 in January 2021, slightly beating market expectations of 60.0. The economic outlook for the German economy improved, amid rising export expectations and despite the uncertainty about the further course of the lockdown. About 71 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 9 percent of them expected it to get worse and 20 percent expected no changes. The assessment of the economic situation in Germany was little-changed at -66.4. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany averaged 22.04 from 1991 until 2021, 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 January of 2021.

Zew Economic Sentiment Index in Germany is expected to be 1.00 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 5.00 in 12 months time. In the long-term, the Germany Zew Economic Sentiment Index is projected to trend around 9.00 in 2022, according to our econometric models.

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Germany Zew Economic Sentiment Index

Actual Previous Highest Lowest Dates Unit Frequency
61.80 55.00 89.60 -63.90 1991 - 2021 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-13 09:00 AM Oct 56.1 77.4 73 70
2020-11-10 10:00 AM Nov 39 56.1 41.7 42
2020-12-08 10:00 AM Dec 55.0 39 45.5 40
2021-01-19 10:00 AM Jan 61.8 55.0 60 60
2021-02-16 10:00 AM Feb 61.8
2021-03-16 10:00 AM Mar
2021-04-13 09:00 AM Apr
2021-05-11 09:00 AM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Investor Morale Stronger than Expected
The ZEW Indicator of Economic Sentiment for Germany rose by 6.8 points from the previous month to 61.8 in January 2021, slightly beating market expectations of 60.0. The economic outlook for the German economy improved, amid rising export expectations and despite the uncertainty about the further course of the lockdown. About 71 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 9 percent of them expected it to get worse and 20 percent expected no changes. The assessment of the economic situation in Germany was little-changed at -66.4.
2021-01-19
German Investor Morale Improves in December
The ZEW Indicator of Economic Sentiment for Germany rose by 16 points from the previous month to 55.0 in December 2020, easily beating market expectations of 45.5, amid expectations that COVID-19 vaccines will boost the economic outlook. About 67 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 12 percent of them expected it to get worse and 21 percent expected no changes. The assessment of the economic situation in Germany has slightly worsened, and currently stands at -66.5 points, 2.2 points lower than in November.
2020-12-08
German Investor Morale Weaker than Forecast
The ZEW Indicator of Economic Sentiment for Germany dropped by 17.1 points from the previous month to 39.0 in November 2020, moving further away from September's 20-year high and missing market expectations of 41.7. Investors were concerned about the economic impact of the second wave of COVID-19 and about the prospect of the German economy falling back into recession. According to survey respondents, neither the Brexit negotiations nor the outcome of the US presidential election currently were having an impact on the economic expectations for Germany. The assessment of the economic situation in Germany has slightly worsened, and currently stands at -64.3 points, 4.8 points lower than in October.
2020-11-10
German Investor Morale Deteriorates in October
The ZEW Indicator of Economic Sentiment for Germany dropped by 21.3 points from the previous month to 56.1 in October 2020, from the previous month's over 20-year high and well below market expectations of 73. Investors voiced concerns about the recent sharp rise in the number of COVID-19 cases and the prospect of the UK leaving the EU without a trade deal. The current situation in the run-up to the presidential election in the US further fuels uncertainty. By contrast, the assessment of the economic situation in Germany improved again, and currently stands at -59.5 points, 6.7 points higher than in September.
2020-10-13

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.