The ZEW Indicator of Economic Sentiment for the Euro Area rose by 21.2 points from the previous month to -22.4 in September 2019, better than market expectations of -32.2. In September, 47.4 percent of the surveyed analysts expected no changes in economic activity and 15.1 percent expected it to improve while 37.5 percent predicted a deterioration in economic conditions. Meantime, the indicator of the current economic situation decreased by 1.1 points to -15.6 and inflation expectations rose by 10.6 points to 9.5. Zew Economic Sentiment Index in the Euro Area averaged 22.51 from 1999 until 2019, reaching an all time high of 89.90 in January of 2000 and a record low of -63.70 in July of 2008.
Zew Economic Sentiment Index in Euro Area is expected to be -22.40 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 Euro Area to stand at -6.00 in 12 months time. In the long-term, the Euro Area Zew Economic Sentiment Index is projected to trend around -6.00 in 2020, according to our econometric models.