Germany’s ZEW Indicator of Current Conditions fell by 4.1 points to -77.8 in May 2026, down from -73.7 in April and below market expectations of -77.5. ZEW Current Conditions in Germany averaged -15.01 points from 1991 until 2026, reaching an all time high of 95.20 points in January of 2018 and a record low of -98.50 points in November of 1993. source: Centre for European Economic Research (ZEW)

ZEW Current Conditions in Germany is expected to be -81.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany ZEW Current Conditions is projected to trend around -60.00 points in 2027 and -52.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-21 09:00 AM
ZEW Current Conditions
Apr -73.7 -62.9 -70 -66
2026-05-12 09:00 AM
ZEW Current Conditions
May -77.8 -73.7 -77.5 -76
2026-06-16 09:00 AM
ZEW Current Conditions
Jun -77.8 -81


Related Last Previous Unit Reference
Bankruptcies 2053.00 1919.00 Companies Feb 2026
Ifo Business Climate 84.90 84.50 points May 2026
Capacity Utilization 77.40 77.70 percent Mar 2026
Car Production 249163.00 400800.00 Units Apr 2026
Car Registrations 249163.00 294161.00 Units Apr 2026
Changes in Inventories 21.01 20.55 EUR Billion Dec 2025
Composite Leading Indicator 100.90 100.92 points Apr 2026
Corporate Profits 204.92 210.61 EUR Billion Mar 2026
Corruption Index 77.00 75.00 Points Dec 2025
Corruption Rank 10.00 15.00 Dec 2025
Electricity Price 96.26 97.71 EUR/MWh May 2026
Factory Orders MoM 5.00 1.40 percent Mar 2026
Ifo Current Conditions 86.10 85.40 points May 2026
Ifo Expectations 83.80 83.50 points May 2026
Industrial Production -2.80 -0.20 percent Mar 2026
Industrial Production MoM -0.70 -0.50 percent Mar 2026
Manufacturing Production -3.60 -0.60 percent Mar 2026
Mining Production -4.80 0.30 percent Mar 2026
Natural Gas Stocks Capacity 247.75 247.75 TWh May 2026
Natural Gas Stocks Injection 1259.89 1200.23 GWh/d May 2026
Natural Gas Stocks Inventory 73.91 72.67 TWh May 2026
Natural Gas Stocks Withdrawal 18.20 24.00 GWh/d May 2026
New Orders 92.90 88.50 points Mar 2026
New Car Registrations YoY 2.70 16.00 percent Apr 2026
Steel Production 3200.00 3300.00 Thousand Tonnes Apr 2026
ZEW Current Conditions -77.80 -73.70 points May 2026
ZEW Economic Sentiment Index -10.20 -17.20 points May 2026


Germany ZEW Current Conditions
In Germany, the ZEW Current Conditions Index measures the level of optimism that analysts have about the current economic situation. 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 economy. Therefore, the ZEW indicator measures the confidence on a scale of -100 (all analysts see deteriorating economic conditions) up to 100 (all analysts see improving economic conditions). A 0 value indicates neutrality.
Actual Previous Highest Lowest Dates Unit Frequency
-77.80 -73.70 95.20 -98.50 1991 - 2026 points Monthly
NSA