Germany's ZEW Indicator of Economic Sentiment rose 7.9 points to 34.2 in August 2026, well above market expectations of 30 and reaching its highest level since February, suggesting that confidence in the German economy is strengthening despite ongoing geopolitical risks. Expectations for future activity became more optimistic, with 44% of analysts anticipating an economic improvement over the coming months, compared with just 9.8% expecting deterioration. Views of current conditions also improved, with the corresponding indicator rising 16.5 points to -61.1. Sentiment strengthened across all major sectors, particularly the automotive industry. Analysts cited strong corporate results, resilient exports and government infrastructure spending as key supports. Consumer expectations improved as well, although risks remain, including exceptionally low water levels on the Rhine, which could disrupt transportation and weigh on economic activity. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany increased to 34.20 points in August from 26.30 points in July of 2026. ZEW Economic Sentiment Index in Germany averaged 21.27 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 August of 2026.

ZEW Economic Sentiment Index in Germany increased to 34.20 points in August from 26.30 points in July of 2026. ZEW Economic Sentiment Index in Germany is expected to be 21.00 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 47.00 points in 2027 and 45.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-21 09:00 AM
ZEW Economic Sentiment Index
Jul 26.3 10.5 18 15
2026-08-18 09:00 AM
ZEW Economic Sentiment Index
Aug 34.2 26.3 30 28.5
2026-09-15 09:00 AM
ZEW Economic Sentiment Index
Sep 34.2 21



Components Last Previous Unit Reference
ZEW Current Conditions -61.10 -77.60 points Aug 2026

Related Last Previous Unit Reference
Bankruptcies 1995.00 2276.00 Companies May 2026
Ifo Business Climate 88.80 86.70 points Aug 2026
Capacity Utilization 78.40 77.70 percent Jun 2026
Car Production 322700.00 377700.00 Units Jul 2026
Car Registrations 268068.00 296378.00 Units Jul 2026
Changes in Inventories 15.88 11.74 EUR Billion Jun 2026
Composite Leading Indicator 100.72 100.76 points Jun 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 137.88 130.34 EUR/MWh Aug 2026
Factory Orders MoM 3.10 0.30 percent Jun 2026
Ifo Current Conditions 88.50 86.50 points Aug 2026
Ifo Expectations 89.10 86.80 points Aug 2026
Industrial Production -0.10 0.00 percent Jun 2026
Industrial Production MoM 0.20 0.70 percent Jun 2026
Manufacturing Production -0.50 -0.50 percent Jun 2026
Mining Production -6.70 -8.10 percent Jun 2026
Natural Gas Stocks Capacity 246.54 246.54 TWh Aug 2026
Natural Gas Stocks Injection 806.55 649.27 GWh/d Aug 2026
Natural Gas Stocks Inventory 129.75 128.82 TWh Aug 2026
Natural Gas Stocks Withdrawal 2.60 15.50 GWh/d Aug 2026
New Orders 92.70 89.90 points Jun 2026
New Car Registrations YoY 1.20 15.70 percent Jul 2026
Steel Production 2800.00 2900.00 Thousand Tonnes Jul 2026
ZEW Economic Sentiment Index 34.20 26.30 points Aug 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
34.20 26.30 89.60 -63.90 1991 - 2026 points Monthly
NSA

News Stream
Germany Investor Morale Improves More than Expected
Germany's ZEW Indicator of Economic Sentiment rose 7.9 points to 34.2 in August 2026, well above market expectations of 30 and reaching its highest level since February, suggesting that confidence in the German economy is strengthening despite ongoing geopolitical risks. Expectations for future activity became more optimistic, with 44% of analysts anticipating an economic improvement over the coming months, compared with just 9.8% expecting deterioration. Views of current conditions also improved, with the corresponding indicator rising 16.5 points to -61.1. Sentiment strengthened across all major sectors, particularly the automotive industry. Analysts cited strong corporate results, resilient exports and government infrastructure spending as key supports. Consumer expectations improved as well, although risks remain, including exceptionally low water levels on the Rhine, which could disrupt transportation and weigh on economic activity.
2026-08-18
German Investor Sentiment Climbs to Five-Month High
Germany's ZEW Indicator of Economic Sentiment rose 15.8 points to 26.3 in July 2026, following a 20.7-point jump in June and comfortably beating market expectations of 18. The reading marked the highest level since February, before the Middle East conflict weighed on global confidence, suggesting that Germany's reform package is beginning to support the economic outlook. The improvement was driven by stronger expectations for export-oriented industries and resilient domestic demand, although the conflict in Iran and elevated oil prices remain key risks to the recovery. Most sectors posted gains in July, led by mechanical engineering (+14.5 points) and private consumption (+14.7 points). The construction sector also improved by 12.7 points, approaching neutral territory. Meanwhile, the chemical, pharmaceutical, and metal industries remained in negative territory despite modest gains, while the automotive sector weakened sharply, with its sentiment balance falling 11.3 points to -46.6.
2026-07-21
German Investor Sentiment Rebounds in June
Germany’s ZEW Indicator of Economic Sentiment rose 20.7 points to 10.5 in June 2026, its first positive reading since the war in the Middle East shook confidence in March, and beat market expectations of -6.0. Investors expect the Iran conflict to end soon, easing pressure on energy prices and inflation. This would support energy-intensive industries and households, boosting domestic demand. Sectoral improvements reflect this optimism: the automotive industry’s balance rose by 21.9 points after months of decline, while chemical/pharmaceutical and mechanical engineering sectors gained 16 and 9.2 points, respectively. Private consumption expectations improved by 11.7 points. However, all these sectors remain in negative territory. The construction sector declined further, with its balance dropping 15.2 points to -12, likely due to the ECB’s June 11 interest rate hike. Meanwhile, the current economic situation assessment worsened slightly to -81, below the expected -78.
2026-06-16