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. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany averaged 22.47 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 May of 2021.

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 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
70.70 76.60 89.60 -63.90 1991 - 2021 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-19 10:00 AM Jan 61.8 55.0 60 60
2021-02-16 10:00 AM Feb 71.2 61.8 59.6 60.5
2021-03-16 10:00 AM Mar 76.6 71.2 74 75
2021-04-13 09:00 AM Apr 70.7 76.6 79 78
2021-05-11 09:00 AM May 70.7 71 69
2021-06-08 09:00 AM Jun 30
2021-07-06 09:00 AM Jul
2021-08-10 09:00 AM Aug
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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
German Investor Morale Stronger than Forecast
The ZEW Indicator of Economic Sentiment for Germany rose by 5.4 points from the previous month to 76.6 in March 2021, not far from September's 20-year high of 77.4 and slightly above market expectations of 74.0. Optimism surrounding the economic outlook continued to improve, with investors anticipating a broad-based recovery of the German economy and at least 70 percent of the population to be offered a COVID-19 vaccine by autumn. In addition, the survey showed inflation is seen increasing further and long-term interest rates are forecast to be higher.
2021-03-16
German Investor Morale Tops Estimates
The ZEW Indicator of Economic Sentiment for Germany edged up by 9.4 points from the previous month to 71.2 in February of 2021, well above market forecasts of 59.6. It is the highest reading since September as markets are optimistic about the future and that the German economy will be back on the growth track within the next six months. In particular, consumption and retail trade are expected to recover significantly, accompanied by higher inflation expectations. The current conditions index however, fell to -67.2 from -66.4.
2021-02-16
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

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.