The ZEW Indicator of Economic Sentiment for Germany dropped 16.5 points from the previous month to 63.3 in July 2021, the lowest level since January and below market expectations of 75.2. It was the second monthly decline in investor confidence, after reaching in May its highest level in two decades, but still suggesting that the overall economic situation will be extraordinarily positive in the coming six months. About 67.2 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 3.9 percent of them expected it to get worse and 28.9 percent expected no changes. The assessment of the economic situation in Germany jumped by 31.0 points to 21.9 points in July, and was back in positive territory for the first time in two years. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany averaged 22.92 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 August of 2021.

Zew Economic Sentiment Index in Germany is expected to be 25.00 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 15.00 in 12 months time. In the long-term, the Germany Zew Economic Sentiment Index is projected to trend around 9.00 in 2022 and 7.00 in 2023, according to our econometric models.

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Germany Zew Economic Sentiment Index

Actual Previous Highest Lowest Dates Unit Frequency
63.30 79.80 89.60 -63.90 1991 - 2021 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-13 09:00 AM Apr 70.7 76.6 79 78
2021-05-11 09:00 AM May 84.4 70.7 72 69
2021-06-08 09:00 AM Jun 79.8 84.4 86 85.1
2021-07-06 09:00 AM Jul 63.3 79.8 75.2 75.1
2021-08-10 09:00 AM Aug 63.3 51.5
2021-09-07 09:00 AM Sep
2021-10-12 09:00 AM Oct
2021-11-09 10:00 AM Nov
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Investor Morale Remains Strong in July
The ZEW Indicator of Economic Sentiment for Germany dropped 16.5 points from the previous month to 63.3 in July 2021, the lowest level since January and below market expectations of 75.2. It was the second monthly decline in investor confidence, after reaching in May its highest level in two decades, but still suggesting that the overall economic situation will be extraordinarily positive in the coming six months. About 67.2 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 3.9 percent of them expected it to get worse and 28.9 percent expected no changes. The assessment of the economic situation in Germany jumped by 31.0 points to 21.9 points in July, and was back in positive territory for the first time in two years.
2021-07-06
Germany Zew Sentiment Falls More than Expected
The ZEW Indicator of Economic Sentiment for Germany fell to 79.8 in June of 2021 from an over 21-year high of 84.4 in May and well below market forecasts of 86. Meanwhile, the indicator for the current economic situation in Germany jumped to -9.1 from -40.1, back to the pre-pandemic level of August 2019. “The economic recovery is progressing. Although the ZEW Indicator of Economic Sentiment has experienced a drop in June, it remains at a very high level. The decline in expectations is probably largely due to the considerably better assessment of the economic situation, which is now back at pre-crisis levels. The financial market experts therefore continue to expect a strong economic recovery for the next six months,” comments ZEW President Professor Achim Wambach.
2021-06-08
German Investor Morale at Over 20-Year High
The ZEW Indicator of Economic Sentiment for Germany jumped by 13.7 points from the previous month to 84.4 in May 2021, the highest level since February 2000 and well above market expectations of 72.0. Investors expect a significant economic upswing in the coming six months, as the third COVID-19 wave slows and the economy re-opens. About 85.5 percent of the surveyed analysts predicted an improvement in economic activity over the coming months, while 1.1 percent of them expected it to get worse and 13.4 percent expected no changes. The indicator for the current economic situation in Germany rose by 8.7 points to -40.1.
2021-05-11
German Investor Morale Unexpectedly Falls
The ZEW Indicator of Economic Sentiment for Germany fell by 5.9 points from the previous month to 70.7 in April 2021, not far from September's 20-year high of 77.4 but well below market expectations of 79.0. It was the first time since November that the indicator has dropped as fears of a stricter lockdown have led to a decline in expectations for private consumption. Still, the outlook for exports was better than in the previous month. About 76 percent of the surveyed analysts predicted an improvement in economic activity over the next six months, while 5 percent expected it to deteriorate and 19 percent saw no changes. Meanwhile, the assessment of the economic situation increased by 12.2 points to -48.8, roughly the same level as in March 2020.
2021-04-13

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.