Germany’s ZEW Indicator of Economic Sentiment jumped to 59.6 in January 2026, marking its highest reading since July 2021 and well above market expectations of 50. Investors are optimistic that 2026 could signal a turning point for the economy. The recently finalized Mercosur trade agreement is also expected to bolster prospects for export-intensive sectors, even as the uncertainty surrounding US trade policy continues to weigh on exporters. Export-oriented industries have shown notable improvements. Sentiment balances in the steel and metal industries and mechanical engineering rose by 18.2 and 22.7 points, respectively. The automotive sector’s balance improved by 16.5 points to -5.5, while the chemical and pharmaceutical industries and electrical engineering saw increases of 12.4 and 14.0 points. The assessment of the current economic situation also strengthened, with the index climbing 8.3 points to -72.7, surpassing expectations of -75.5. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany increased to 59.60 points in January from 45.80 points in December of 2025. ZEW Economic Sentiment Index in Germany averaged 21.39 points from 1991 until 2026, 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 February of 2026.

ZEW Economic Sentiment Index in Germany increased to 59.60 points in January from 45.80 points in December of 2025. ZEW Economic Sentiment Index in Germany is expected to be 55.00 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 10.00 points in 2027 and 5.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-16 10:00 AM
ZEW Economic Sentiment Index
Dec 45.8 38.5 38.5 39
2026-01-20 10:00 AM
ZEW Economic Sentiment Index
Jan 59.6 45.8 50 49
2026-02-17 10:00 AM
ZEW Economic Sentiment Index
Feb 59.6 57

Components Last Previous Unit Reference
ZEW Current Conditions -72.70 -81.00 points Jan 2026

Related Last Previous Unit Reference
Bankruptcies 2108.00 1940.00 Companies Oct 2025
Ifo Business Climate 87.60 87.60 points Jan 2026
Capacity Utilization 78.00 77.30 percent Dec 2025
Car Production 263500.00 398500.00 Units Dec 2025
Car Registrations 193981.00 246439.00 Units Jan 2026
Changes in Inventories 21.22 17.40 EUR Billion Sep 2025
Composite Leading Indicator 101.40 101.26 points Jan 2026
Corporate Profits 205.48 210.51 EUR Billion Sep 2025
Corruption Index 75.00 78.00 Points Dec 2024
Corruption Rank 15.00 9.00 Dec 2024
Electricity Price 108.15 107.89 EUR/MWh Feb 2026
Factory Orders MoM 7.80 5.70 percent Dec 2025
Ifo Current Conditions 85.70 85.60 points Jan 2026
Ifo Expectations 89.50 89.70 points Jan 2026
Industrial Production -0.60 0.50 percent Dec 2025
Industrial Production MoM -1.90 0.20 percent Dec 2025
Manufacturing Production -0.30 1.00 percent Dec 2025
Mining Production 2.40 3.20 percent Dec 2025
Natural Gas Stocks Capacity 251.14 251.14 TWh Feb 2026
Natural Gas Stocks Injection 173.00 44.64 GWh/d Feb 2026
Natural Gas Stocks Inventory 68.74 69.45 TWh Feb 2026
Natural Gas Stocks Withdrawal 929.10 1841.00 GWh/d Feb 2026
New Orders 92.80 87.90 points Nov 2025
New Car Registrations YoY -6.60 9.70 percent Jan 2026
Steel Production 2700.00 2800.00 Thousand Tonnes Dec 2025
ZEW Economic Sentiment Index 59.60 45.80 points Jan 2026


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
59.60 45.80 89.60 -63.90 1991 - 2026 points Monthly
NSA

News Stream
German Investor Morale Surges to Over 4-Year High
Germany’s ZEW Indicator of Economic Sentiment jumped to 59.6 in January 2026, marking its highest reading since July 2021 and well above market expectations of 50. Investors are optimistic that 2026 could signal a turning point for the economy. The recently finalized Mercosur trade agreement is also expected to bolster prospects for export-intensive sectors, even as the uncertainty surrounding US trade policy continues to weigh on exporters. Export-oriented industries have shown notable improvements. Sentiment balances in the steel and metal industries and mechanical engineering rose by 18.2 and 22.7 points, respectively. The automotive sector’s balance improved by 16.5 points to -5.5, while the chemical and pharmaceutical industries and electrical engineering saw increases of 12.4 and 14.0 points. The assessment of the current economic situation also strengthened, with the index climbing 8.3 points to -72.7, surpassing expectations of -75.5.
2026-01-20
Germany Investor Morale Improves
Germany’s ZEW Indicator of Economic Sentiment rose sharply to 45.8 in December 2025, the highest in five months, compared to 38.5 in November and well above forecasts of 38.5. Improvements were seen in the auto sector (+7.7 to -22) and in other export-oriented sectors, including the chemical and pharmaceutical industries and metal production. “xpectations have become more positive. After three years of economic stagnation, chances for a recovery of the economy are good and this is reflected in the sentiment. The expansive fiscal policy will provide new momentum to the German economy. However, the recovery remains fragile. Measures for dealing with persistent trade conflicts, geopolitical tensions and the absence of investments are likely to figure on the reform agenda for 2026 as well”, according to ZEW President Prof. Achim Wambach. On the other hand, the current conditions gauge worsened to -81, the lowest since May, from -78.7 in April and compared to forecasts of -80.
2025-12-16
German Investor Sentiment Falls Slightly in November
Germany’s ZEW Indicator of Economic Sentiment slipped to 38.5 in November 2025, down from October’s three-month high of 39.3 and below market expectations of 40, reflecting waning confidence in the government’s ability to implement effective economic policies. “The investment program should provide an economic stimulus, but structural problems persist,” said ZEW President Prof. Achim Wambach. The outlook is particularly weak for the chemical and metal industries, while the banking and insurance sectors also registered declines compared with last month. In contrast, private consumption saw a notable improvement, rising 13.3 points, and the electrical engineering, service, telecommunications, and IT sectors posted modest gains. Meanwhile, the current economic conditions index rose 1.3 points to -78.7 in November.
2025-11-11