The ZEW Indicator of Economic Sentiment for Germany edged down to 29.9 in December 2021 from 31.7 in the previous month, but above market expectations of 25.1. The latest reading suggested that hopes for much stronger growth in the next six months are fading, as Europe's largest economy struggles with the latest developments in the COVID-19 pandemic as well as the persisting supply bottlenecks on production and retail trade. Earnings expectations of export-oriented and consumer-related industries deteriorated sharply. Meanwhile, the assessment of the economic situation in Germany declined again, with the corresponding indicator dropping 19.9 points to -7.4 points. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany averaged 23.02 points from 1991 until 2021, reaching an all time high of 89.60 points in January of 2000 and a record low of -63.90 points 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 2022.

ZEW Economic Sentiment Index in Germany is expected to be 26.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany ZEW Economic Sentiment Index is projected to trend around 9.00 points in 2022 and 7.00 points in 2023, according to our econometric models.

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Germany ZEW Economic Sentiment Index


Calendar GMT Actual Previous Consensus TEForecast
2021-11-09 10:00 AM Nov 31.7 22.3 20 17
2021-12-07 10:00 AM Dec 29.9 31.7 25.1 26.5
2022-01-18 10:00 AM Jan 29.9 32 34


Related Last Previous Unit Reference
ZEW Economic Sentiment Index 29.90 31.70 points Dec/21
ZEW Current Conditions -7.40 12.50 points Dec/21

News Stream
German Investor Morale Weakens in December
The ZEW Indicator of Economic Sentiment for Germany edged down to 29.9 in December 2021 from 31.7 in the previous month, but above market expectations of 25.1. The latest reading suggested that hopes for much stronger growth in the next six months are fading, as Europe's largest economy struggles with the latest developments in the COVID-19 pandemic as well as the persisting supply bottlenecks on production and retail trade. Earnings expectations of export-oriented and consumer-related industries deteriorated sharply. Meanwhile, the assessment of the economic situation in Germany declined again, with the corresponding indicator dropping 19.9 points to -7.4 points.
2021-12-07
German Investor Morale Tops Forecasts
The ZEW Indicator of Economic Sentiment for Germany jumped to 31.7 in November of 2021 from 22.3 in October, beating market forecasts of 20. Financial market experts are more optimistic about the coming six months and expect growth to pick up and inflation to fall in Q1 2022, both in Germany and the Eurozone. On the other hand, the current conditions gauge fell to 12.5 from 21.6, below forecasts of 18, as supply bottlenecks for raw materials and intermediate products and high inflation rate are expected to have a negative impact on the economic development in the current quarter.
2021-11-09
German Investor Morale Weaker than Forecast
The ZEW Indicator of Economic Sentiment for Germany dropped another 4.2 points from the previous month to 22.3 in October 2021, the lowest level since March 2020 when the COVID-19 pandemic hit Europe's largest economy, sending investor morale sharply lower. The reading came in also below market expectations of 24.0 and moved further away from an over 21-year high of 84.4 hit in May, suggesting the outlook for the economic development in the next six months deteriorated sharply due to the persisting supply bottlenecks for raw materials and intermediate products. Investors now expect profits to go down, especially in export-oriented sectors such as vehicle manufacturing and chemicals/pharmaceuticals. The assessment of the economic situation in Germany also declined more than expected in October, falling by 10.3 points to 21.6.
2021-10-12

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.