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. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany increased to 26.30 points in July from 10.50 points in June of 2026. ZEW Economic Sentiment Index in Germany averaged 21.24 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 July of 2026.

ZEW Economic Sentiment Index in Germany increased to 26.30 points in July from 10.50 points in June of 2026. ZEW Economic Sentiment Index in Germany is expected to be 4.00 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
2026-06-16 09:00 AM
ZEW Economic Sentiment Index
Jun 10.5 -10.2 -6 -8
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 26.3 21.5



Components Last Previous Unit Reference
ZEW Current Conditions -77.60 -81.00 points Jul 2026

Related Last Previous Unit Reference
Bankruptcies 2276.00 2308.00 Companies Apr 2026
Ifo Business Climate 86.60 85.70 points Jul 2026
Capacity Utilization 78.40 77.70 percent Jun 2026
Car Production 377700.00 301600.00 Units Jun 2026
Car Registrations 296378.00 239448.00 Units Jun 2026
Changes in Inventories 14.84 26.42 EUR Billion Mar 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 104.06 104.06 EUR/MWh Jul 2026
Factory Orders MoM 1.90 -3.80 percent May 2026
Ifo Current Conditions 86.50 87.00 points Jul 2026
Ifo Expectations 86.70 84.30 points Jul 2026
Industrial Production 0.00 -0.90 percent May 2026
Industrial Production MoM 0.90 0.20 percent May 2026
Manufacturing Production -0.70 -1.60 percent May 2026
Mining Production -7.50 -9.10 percent May 2026
Natural Gas Stocks Capacity 246.49 246.49 TWh Jul 2026
Natural Gas Stocks Injection 237.52 295.64 GWh/d Jul 2026
Natural Gas Stocks Inventory 114.33 114.10 TWh Jul 2026
Natural Gas Stocks Withdrawal 18.10 46.70 GWh/d Jul 2026
New Orders 91.30 89.60 points May 2026
New Car Registrations YoY 15.70 0.10 percent Jun 2026
Steel Production 2900.00 3200.00 Thousand Tonnes Jun 2026
ZEW Economic Sentiment Index 26.30 10.50 points Jul 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
26.30 10.50 89.60 -63.90 1991 - 2026 points Monthly
NSA

News Stream
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
German Investor Sentiment Improves in May
Germany’s ZEW Indicator of Economic Sentiment rose by seven points to -10.2 in May 2026, recovering from an over three-year low of -17.2 in April and surpassing market expectations of -19.8. While the improvement signals brightening expectations, the indicator remains in negative territory as investors hope for a swift resolution to the Iran conflict. However, weak industrial production, rising energy prices, and inflation above 2% continue to dampen the outlook. A cautious recovery is emerging for the second half of 2026, contingent on the Middle East conflict subsiding and government stimulus measures taking effect. Sectoral performance varied: the automotive sector worsened by 13 points to -57.2 and mechanical engineering declined by 9.2 points to -32.1, while the IT sector improved by 12.1 points to 56.6, and metal production and construction saw gains. Meanwhile, the current economic situation index fell to -77.8, its lowest level since December 2025 and below the expected -77.5.
2026-05-12