The ZEW Indicator of Economic Sentiment for Germany fell by 4.1 points to 59.3 in July 2020 defying the expectations of further improvement. Still, the reading was only slightly off from 14-year high of 63.4 reported in June as investors expect that there will be a gradual increase in GDP in the second half of the year and in early 2021 as the economy recovers from the coronavirus crisis. 69.5 percent of the surveyed analysts predicted an improvement in economic activity over the next six months, while 10.2 percent expected it to deteriorate and 20.3 percent saw no changes. Meanwhile, the assessment of the current economic situation improved only slightly, with the corresponding indicator increasing 2.2 points to -80.9.

Zew Economic Sentiment Index in Germany averaged 21.37 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. Germany Zew Economic Sentiment Index - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Centre for European Economic Research (ZEW)

Zew Economic Sentiment Index in Germany is expected to be 5.00 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 15.00 in 12 months time. In the long-term, the Germany Zew Economic Sentiment Index is projected to trend around 5.00 in 2021 and 9.00 in 2022, according to our econometric models.

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Germany Zew Economic Sentiment Index

Actual Previous Highest Lowest Dates Unit Frequency
59.30 63.40 89.60 -63.90 1991 - 2020 Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-21 09:00 AM Apr 28.2 -49.5 -42.3 -42.8
2020-05-19 09:00 AM May 51 28.2 32 32
2020-06-16 09:00 AM Jun 63.4 51 60 55
2020-07-14 09:00 AM Jul 59.3 63.4 60 61
2020-08-11 09:00 AM Aug 59.3 25
2020-09-15 09:00 AM Sep 15
2020-10-13 09:00 AM Oct
2020-11-10 10:00 AM Nov
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Investor Morale Remains Strong in July
The ZEW Indicator of Economic Sentiment for Germany fell by 4.1 points to 59.3 in July 2020 defying the expectations of further improvement. Still, the reading was only slightly off from 14-year high of 63.4 reported in June as investors expect that there will be a gradual increase in GDP in the second half of the year and in early 2021 as the economy recovers from the coronavirus crisis. 69.5 percent of the surveyed analysts predicted an improvement in economic activity over the next six months, while 10.2 percent expected it to deteriorate and 20.3 percent saw no changes. Meanwhile, the assessment of the current economic situation improved only slightly, with the corresponding indicator increasing 2.2 points to -80.9.
2020-07-14
German Investor Morale Hits 14-Year High
The ZEW Indicator of Economic Sentiment for Germany rose by 12.4 points from the previous month to 63.4 in June 2020, the highest reading since March 2006 and above market expectations of 60.0, amid growing expectations that the economy will bottom out by summer 2020. Still, investors continue to expect only a slow increase in economic value added in the second half of the year. By sectors, forecasts were fairly positive for information technologies, telecommunications and consumer-oriented services, while earnings expectations were strongly negative for export-oriented sectors such as automotive and mechanical engineering, as well as the financial sector. Meanwhile, the assessment of the current economic situation also improved for the first time since January, with the corresponding indicator increasing 10.4 points to -83.1.
2020-06-16
German Investor Morale Hits 5-Year High
The ZEW Indicator of Economic Sentiment for Germany climbed 22.8 points from the previous month to 51.0 in May 2020, the highest reading since April 2015 and well above market expectations of 32.0. Investors grew optimistic about a possible economic turnaround from summer onwards and saw activity growth to pick up pace again in the fourth quarter of 2020, although the catching-up process will take a long time. Meanwhile, the assessment of the current economic situation continued to worsen, with the corresponding indicator dropping 2.0 points to -93.5.
2020-05-19
German Investor Morale Beats Forecasts
The ZEW Economic Sentiment Index for Germany jumped by 77.7 points to 28.2 in April 2020 from an eight-year low in the previous month and well above market expectations of -42.3. It was the largest monthly increase since the survey began in December 1991, after posting a record fall during March. Investors started "to see a light at the end of the very long tunnel", but do not expect to see positive economic growth until the third quarter of 2020, while economic output will probably return to pre-corona levels only after 2022. Meanwhile, the assessment of the current economic situation worsened dramatically, with the corresponding indicator dropping 48.4 points to -91.5. This constellation of values currently witnessed for expectations and the assessment of the current situation roughly corresponds to that seen in April/May 2009 during the financial crisis.
2020-04-21

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.