The ZEW Indicator of Economic Sentiment for Germany declined to -10.7 in May 2023, its lowest level in five months and significantly worse than market expectations of -5.3. The current conditions index also decreased to -34.8 from April's -32.5, although less than forecasts of -37. These declines can be attributed, in part, to expectations of future interest rate hikes by the European Central Bank, while concerns over a potential default by the United States have also heightened uncertainty regarding international economic development. Consequently, financial market experts predict a further deterioration in the already unfavorable economic situation over the next six months. ZEW additionally highlighted the possibility of the German economy entering a mild recession. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany averaged 21.25 points from 1991 until 2023, 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 June of 2023.

ZEW Economic Sentiment Index in Germany is expected to be -12.00 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 21.50 points in 2024 and 7.00 points in 2025, according to our econometric models.

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Germany ZEW Economic Sentiment Index



Calendar GMT Actual Previous Consensus TEForecast
2023-04-18 09:00 AM Apr 4.1 13 15.3 15
2023-05-16 09:00 AM May -10.7 4.1 -5.3 -2
2023-06-13 09:00 AM Jun -10.7 -12.7 -12


Related Last Previous Unit Reference
ZEW Economic Sentiment Index -10.70 4.10 points May 2023
ZEW Current Conditions -34.80 -32.50 points May 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
-10.70 4.10 89.60 -63.90 1991 - 2023 points Monthly
NSA

News Stream
German Investor Morale Falls Sharply
The ZEW Indicator of Economic Sentiment for Germany declined to -10.7 in May 2023, its lowest level in five months and significantly worse than market expectations of -5.3. The current conditions index also decreased to -34.8 from April's -32.5, although less than forecasts of -37. These declines can be attributed, in part, to expectations of future interest rate hikes by the European Central Bank, while concerns over a potential default by the United States have also heightened uncertainty regarding international economic development. Consequently, financial market experts predict a further deterioration in the already unfavorable economic situation over the next six months. ZEW additionally highlighted the possibility of the German economy entering a mild recession.
2023-05-16
German Investor Morale Unexpectedly Sinks
The ZEW Indicator of Economic Sentiment for Germany declined for a second month to 4.1 in April of 2023, the lowest so far this year, from 13 in March and well below market forecasts of 15.3. The reading now points to unchanged economic situation for the next six months, with experts expecting banks to be more cautious in granting loans while high inflation and the internationally restrictive monetary policy are also weighing on the economy. On the other hand, the current conditions index improved to -32.5 compared to -46.5 in March and forecasts of -40. Despite the improvement, the economic situation is still considered relatively negative. At the same time, earnings expectations for banks and insurance companies have improved and are once again clearly in positive territory, according to ZEW President Achim Wambach.
2023-04-18
German Investor Morale Declines in March
The ZEW Indicator of Economic Sentiment for Germany fell by 15.1 points from a month earlier to 13 in March 2023, well below market expectations of 17.1 due to high levels of uncertainty in the international financial markets. Also, the assessment of the economic situation deteriorated slightly to -46.5 in March from -45.1 in February. "The assessment of the earnings development of banks has deteriorated considerably, although it still remains slightly positive," said ZEW President Achim Wambach.
2023-03-21