Germany’s ZEW Indicator of Economic Sentiment plunged by 16.7 points to -17.2 in April 2026, marking its lowest level since December 2022 and falling far short of market expectations of -5. The sharp decline, following March’s third-largest monthly drop in the indicator’s history, reflects deepening pessimism as the escalating Middle East conflict weighs on Germany’s economic outlook. ZEW President Prof. Achim Wambach warned that the Iran war’s impact extends beyond rising prices, with fears of long-term energy shortages dampening investment and undermining government stimulus efforts. Sectoral expectations remain heavily affected: while the automotive industry stayed relatively stable (at -44.2), outlook for the chemical and pharmaceutical sectors (down 11 points) and steel and metal production (down 21 points) deteriorated sharply. Meanwhile, construction sector expectations slipped into negative territory, declining by 3.8 points. source: Centre for European Economic Research (ZEW)

ZEW Economic Sentiment Index in Germany decreased to -17.20 points in April from -0.50 points in March of 2026. ZEW Economic Sentiment Index in Germany averaged 21.33 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 April of 2026.

ZEW Economic Sentiment Index in Germany decreased to -17.20 points in April from -0.50 points in March of 2026. ZEW Economic Sentiment Index in Germany is expected to be -20.00 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
2026-03-17 10:00 AM
ZEW Economic Sentiment Index
Mar -0.5 58.3 39 36
2026-04-21 09:00 AM
ZEW Economic Sentiment Index
Apr -17.2 -0.5 -5 -10
2026-05-12 09:00 AM
ZEW Economic Sentiment Index
May -17.2 -26

Components Last Previous Unit Reference
ZEW Current Conditions -73.70 -62.90 points Apr 2026

Related Last Previous Unit Reference
Bankruptcies 1919.00 2037.00 Companies Jan 2026
Ifo Business Climate 84.40 86.30 points Apr 2026
Capacity Utilization 77.40 77.70 percent Mar 2026
Car Production 400800.00 356811.00 Units Mar 2026
Car Registrations 294161.00 211262.00 Units Mar 2026
Changes in Inventories 21.01 20.55 EUR Billion Dec 2025
Composite Leading Indicator 101.35 101.27 points Mar 2026
Corporate Profits 210.63 207.12 EUR Billion Dec 2025
Corruption Index 77.00 75.00 Points Dec 2025
Corruption Rank 10.00 15.00 Dec 2025
Electricity Price 80.91 83.17 EUR/MWh Apr 2026
Factory Orders MoM 0.90 -11.10 percent Feb 2026
Ifo Current Conditions 85.40 86.70 points Apr 2026
Ifo Expectations 83.30 85.90 points Apr 2026
Industrial Production 0.00 -0.90 percent Feb 2026
Industrial Production MoM -0.30 0.00 percent Feb 2026
Manufacturing Production -0.20 -0.60 percent Feb 2026
Mining Production -14.00 -6.20 percent Feb 2026
Natural Gas Stocks Capacity 247.71 247.71 TWh Apr 2026
Natural Gas Stocks Injection 754.36 512.91 GWh/d Apr 2026
Natural Gas Stocks Inventory 60.40 59.68 TWh Apr 2026
Natural Gas Stocks Withdrawal 30.30 30.30 GWh/d Apr 2026
New Orders 88.30 87.50 points Feb 2026
New Car Registrations YoY 16.00 3.80 percent Mar 2026
Steel Production 3300.00 2800.00 Thousand Tonnes Mar 2026
ZEW Economic Sentiment Index -17.20 -0.50 points Apr 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
-17.20 -0.50 89.60 -63.90 1991 - 2026 points Monthly
NSA

News Stream
German Economic Sentiment Falls to Over 3-Year Low
Germany’s ZEW Indicator of Economic Sentiment plunged by 16.7 points to -17.2 in April 2026, marking its lowest level since December 2022 and falling far short of market expectations of -5. The sharp decline, following March’s third-largest monthly drop in the indicator’s history, reflects deepening pessimism as the escalating Middle East conflict weighs on Germany’s economic outlook. ZEW President Prof. Achim Wambach warned that the Iran war’s impact extends beyond rising prices, with fears of long-term energy shortages dampening investment and undermining government stimulus efforts. Sectoral expectations remain heavily affected: while the automotive industry stayed relatively stable (at -44.2), outlook for the chemical and pharmaceutical sectors (down 11 points) and steel and metal production (down 21 points) deteriorated sharply. Meanwhile, construction sector expectations slipped into negative territory, declining by 3.8 points.
2026-04-21
Germany’s ZEW Sentiment Plummets on Middle East Conflict
Germany’s ZEW Indicator of Economic Sentiment plummeted by 58.8 points to -0.5 in March 2026, down from 58.3 in February and far below market expectations of 39, as sentiment was severely impacted by the escalating conflict in the Middle East. This marks the third largest monthly decline in the indicator’s history, following a 65.6-point drop in April 2025 after the US announced new tariffs and a 93.6-point fall in March 2022 in the wake of Russia’s invasion of Ukraine. The intensifying Middle East crisis is driving energy prices sharply higher and fueling inflationary pressures, raising concerns that Germany’s economic recovery could be derailed. The ultimate impact will hinge on the conflict’s duration and severity, but financial experts remain doubtful that a quick resolution is likely. Meanwhile, the assessment of the current economic situation strengthened, with the index climbing 3.0 points to -62.9, surpassing expectations of -67.3.
2026-03-17
German ZEW Sentiment Weaker than Expected
Germany’s ZEW Indicator of Economic Sentiment slipped to 58.3 in February 2026 from January’s more than four-year high of 59.6, falling short of market expectations of 65. The broadly steady reading points to a fragile recovery in Europe’s largest economy. Structural challenges in industry and investment persist, highlighting the need for reforms to boost Germany’s business appeal. Export-oriented sectors recorded moderate to strong gains in February, likely reflecting stronger-than-expected order intake toward the end of 2025. Sentiment improved notably in chemicals and pharmaceuticals (up 7.5 points), steel and metals (up 8.6 points), and mechanical engineering (up 10.9 points). The outlook for private consumption also strengthened, rising 6.0 points despite lingering uncertainty. By contrast, sentiment deteriorated in banking, information technology, and insurance. Meanwhile, the assessment of current conditions continued to improve, with the situation index rising to -65.9.
2026-02-17