The ZEW Indicator of Economic Sentiment for Germany fell 18 points from the previous month to 8.7 in February 2020, well below market forecasts of 21.5. The feared negative effects of the coronavirus outbreak on world trade caused a considerable deterioration on sentiment. Additionally, expectations regarding the export-intensive sectors development dropped sharply. Meantime, the assessment of the economic situation also weakened, with the corresponding indicator declining 6.2 points to -15.7. Germany Zew Economic Sentiment Index - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Zew Economic Sentiment Index in Germany averaged 21.24 from 1991 until 2020, 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. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany is expected to be 12.00 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 -4.00 in 12 months time. In the long-term, the Germany Zew Economic Sentiment Index is projected to trend around -3.00 in 2021, according to our econometric models.


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Germany Zew Economic Sentiment Index

Actual Previous Highest Lowest Dates Unit Frequency
8.70 26.70 89.60 -63.90 1991 - 2020 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-12 10:00 AM Nov -2.1 -22.8 -13 -16.4
2019-12-10 10:00 AM Dec 10.7 -2.1 0.3 1
2020-01-21 10:00 AM Jan 26.7 10.7 15 15
2020-02-18 10:00 AM Feb 8.7 26.7 21.5 19
2020-03-17 10:00 AM Mar 8.7 12
2020-04-21 09:00 AM Apr
2020-05-19 09:00 AM May
2020-06-16 09:00 AM Jun -4


News Stream
German Investor Morale Deteriorates in February
The ZEW Indicator of Economic Sentiment for Germany fell 18 points from the previous month to 8.7 in February 2020, well below market forecasts of 21.5 as investors continued to worry about the impact of coronavirus outbreak on the world trade. Expectations of the export-intensive sectors development dropped sharply and the assessment of the economic situation declined 6.2 points to -15.7.
2020-02-18
German Investor Morale Hits 4-1/2-Year High
The ZEW Indicator of Economic Sentiment for Germany climbed 16.0 points from the previous month to 26.7 in January 2020, the highest since July 2015 and well above market expectations of 15.0. Investors believe the trade dispute's negative effects on the German economy will be less pronounced than previously thought following the recent signing of the US-China Phase One agreement. In addition, the German economy developed slightly better than expected in the previous year. Meanwhile, the assessment of the economic situation also improved considerably, with the corresponding indicator jumping 10.4 points to -9.5.
2020-01-21
German Investor Morale at Near 2-Year High
The ZEW Indicator of Economic Sentiment for Germany jumped 12.8 points from the previous month to 10.7 in December 2019, the highest level since February 2018 and well above market expectations of 0.3, on hopes that German exports and private consumption will develop better than previously thought. Stronger than expected exports data, alongside relatively robust economic growth in the EU in the third quarter and a stable German labour market were enough to offset weak figures for industrial production and incoming orders for October. The assessment of the economic situation also improved, rising by 4.8 points to -19.9.
2019-12-10
German Investor Morale Improves Strongly
The ZEW Indicator of Economic Sentiment for Germany jumped 20.7 points from a month earlier to -2.1 in November 2019, the highest since May and easily beating market expectations of -13. “There is growing hope that the international economic policy environment will improve in the near future, which explains the sharp rise in the ZEW Indicator of Economic Sentiment in November. In the meantime, the chances for a agreement between Great Britain and the EU and thus for a regulated withdrawal of Great Britain have noticeably increased. Punitive tariffs on car imports from the EU to the United States are also less likely than the projections a few weeks ago. An agreement in the trade conflict between the USA and China is appearing more likely too,” commented ZEW President Professor Achim Wambach. Also, the assessment of the economic situation in the country improved slightly by 0.6 points to -24.7.
2019-11-12

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.