Germany EUR

Germany ZEW Economic Sentiment Index

Info

History

Chart

Impact:

High

Source: Centre for European Economic Research (ZEW)

Latest Release:

Date:

Big Surprise:

13.3

EUR

Actual:

25.2

Forecast: 11.9

Previous/Revision:

-14

Period: May

Next Release:

Date:

Forecast: 19

Period: Jun

What Does It Measure?

The ZEW Economic Sentiment Index measures the economic sentiment and expectations of financial market experts regarding the future development of the German economy. It focuses primarily on future economic activity, investment intentions, inflation expectations, and employment trends, serving as a key indicator of economic confidence in Germany.

Frequency

The ZEW Economic Sentiment Index is released monthly, typically on the second Tuesday of the month, providing a preliminary estimate that reflects market expectations for the upcoming six months.

Why Do Traders Care?

Traders closely monitor the ZEW Economic Sentiment Index as it indicates future economic growth and investor confidence, which can influence market trends and asset prices. Stronger-than-expected results can lead to currency appreciation (e.g., EUR) and bolster stock prices, while weaker readings may suggest economic challenges, leading to bearish sentiments in financial markets.

What Is It Derived From?

The index is derived from a survey of around 350 financial market experts, including analysts and institutional investors, who provide their expectations regarding the economy. The data is collected using diffusion indices, where respondents indicate whether they expect economic conditions to improve, remain unchanged, or worsen, with the index reflecting a balance of positive and negative sentiments.

Description

The ZEW Economic Sentiment Index is categorized as a leading economic indicator since it gauges investor expectations before actual economic activities materialize. A higher index value indicates growing confidence in economic prosperity, while a lower value reflects pessimism, potentially signaling future economic downturns.

Additional Notes

This index is closely watched alongside other indicators, such as the Ifo Business Climate Index, offering insights into the overall health of the German economy. The ZEW index serves as a coincident indicator of economic trends and can influence both regional and global market movements.

Bullish or Bearish for Currency and Stocks

If the ZEW Economic Sentiment Index results are higher than expected: Bullish for EUR, Bullish for Stocks. If lower than expected: Bearish for EUR, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
May 13, 2025	25.2	11.9	-14	13.3
Apr 15, 2025	-14	9.5	51.6	-23.5
Mar 18, 2025	51.6	48.1	26	3.5
Feb 18, 2025	26	20	10.3	6
Jan 21, 2025	10.3	15.3	15.7	-5
Dec 17, 2024	15.7	6.5	7.4	9.2
Nov 12, 2024	7.4	13	13.1	-5.6
Oct 15, 2024	13.1	10	3.6	3.1
Sep 17, 2024	3.6	17	19.2	-13.4
Aug 13, 2024	19.2	32	41.8	-12.8
Jul 16, 2024	41.8	42.5	47.5	-0.7
Jun 18, 2024	47.5	50	47.1	-2.5
May 14, 2024	47.1	46	42.9	1.1
Apr 16, 2024	42.9	35.9	31.7	7
Mar 19, 2024	31.7	20.5	19.9	11.2
Feb 13, 2024	19.9	17.5	15.2	2.4
Jan 16, 2024	15.2	12	12.8	3.2
Dec 12, 2023	12.8	8.8	9.8	4
Nov 14, 2023	9.8	5	-1.1	4.8
Oct 17, 2023	-1.1	-9.3	-11.4	8.2
Sep 12, 2023	-11.4	-15	-12.3	3.6
Aug 15, 2023	-12.3	-14.7	-14.7	2.4
Jul 11, 2023	-14.7	-10.5	-8.5	-4.2
Jun 13, 2023	-8.5	-13.1	-10.7	4.6
May 16, 2023	-10.7	-5.3	4.1	-5.4
Apr 18, 2023	4.1	15.3	13	-11.2
Mar 21, 2023	13	17.1	28.1	-4.1
Feb 21, 2023	28.1	22	16.9	6.1
Jan 17, 2023	16.9	-15	-23.3	31.9
Dec 13, 2022	-23.3	-26.4	-36.7	3.1
Nov 15, 2022	-36.7	-50	-59.2	13.3
Oct 18, 2022	-59.2	-65.7	-61.9	6.5
Sep 13, 2022	-61.9	-60	-55.3	-1.9
Aug 16, 2022	-55.3	-53.8	-53.8	-1.5
Jul 12, 2022	-53.8	-38.3	-28	-15.5
Jun 14, 2022	-28	-27.5	-34.3	-0.5
May 10, 2022	-34.3	-42	-41	7.7
Apr 12, 2022	-41	-48	-39.3	7
Mar 15, 2022	-39.3	10	54.3	-49.3
Feb 15, 2022	54.3	55	51.7	-0.7
Jan 18, 2022	51.7	32	29.9	19.7
Dec 07, 2021	29.9	25.1	31.7	4.8
Nov 09, 2021	31.7	20	22.3	11.7
Oct 12, 2021	22.3	24	26.5	-1.7
Sep 07, 2021	26.5	30	40.4	-3.5
Aug 10, 2021	40.4	56.7	63.3	-16.3
Jul 06, 2021	63.3	75.2	79.8	-11.9
Jun 08, 2021	79.8	86	84.4	-6.2
May 11, 2021	84.4	72	70.7	12.4
Apr 13, 2021	70.7	79	76.6	-8.3
Mar 16, 2021	76.6	74	71.2	2.6
Feb 16, 2021	71.2	59.6	61.8	11.6
Jan 19, 2021	61.8	60	55	1.8
Dec 08, 2020	55	45.5	39	9.5
Nov 10, 2020	39	41.7	56.1	-2.7
Oct 13, 2020	56.1	73	77.4	-16.9
Sep 15, 2020	77.4	69.8	71.5	7.6
Aug 11, 2020	71.5	58	59.3	13.5
Jul 14, 2020	59.3	60	63.4	-0.7
Jun 16, 2020	63.4	60	51	3.4
May 19, 2020	51	32	28.2	19
Apr 21, 2020	28.2	-42.3	-49.5	70.5
Mar 17, 2020	-49.5	-26.4	8.7	-23.1
Feb 18, 2020	8.7	21.5	26.7	-12.8
Jan 21, 2020	26.7	15	10.7	11.7
Dec 10, 2019	10.7	0.3	-2.1	10.4
Nov 12, 2019	-2.1	-13	-22.8	10.9
Oct 15, 2019	-22.8	-27	-22.5	4.2
Sep 17, 2019	-22.5	-37	-44.1	14.5
Aug 13, 2019	-44.1	-28.5	-24.5	-15.6
Jul 16, 2019	-24.5	-22.3	-21.1	-2.2
Jun 18, 2019	-21.1	-5.9	-2.1	-15.2
May 14, 2019	-2.1	5	3.1	-7.1
Apr 16, 2019	3.1	0.8	-3.6	2.3
Mar 19, 2019	-3.6	-11	-13.4	7.4
Feb 19, 2019	-13.4	-14	-15	0.6
Jan 22, 2019	-15	-18.4	-17.5	3.4
Dec 11, 2018	-17.5	-25	-24.1	7.5
Nov 13, 2018	-24.1	-25	-24.7	0.9
Oct 16, 2018	-24.7	-12	-10.6	-12.7
Sep 11, 2018	-10.6	-14	-13.7	3.4
Aug 14, 2018	-13.7	-20.7	-24.7	7
Jul 10, 2018	-24.7	-18	-16.1	-6.7
Jun 12, 2018	-16.1	-14	-8.2	-2.1
May 15, 2018	-8.2	-8.2	-8.2
Apr 17, 2018	-8.2	-1	5.1	-7.2
Mar 20, 2018	5.1	13.1	17.8	-8
Feb 20, 2018	17.8	15.5	20.4	2.3
Jan 23, 2018	20.4	17.8	17.4	2.6
Dec 12, 2017	17.4	18	18.7	-0.6
Nov 14, 2017	18.7	20	17.6	-1.3
Oct 17, 2017	17.6	20	17	-2.4
Sep 19, 2017	17	12.5	10	4.5
Aug 22, 2017	10	15	17.5	-5
Jul 18, 2017	17.5	18	18.6	-0.5
Jun 13, 2017	18.6	21.5	20.6	-2.9
May 16, 2017	20.6	22	19.5	-1.4
Apr 11, 2017	19.5	14	12.8	5.5
Mar 14, 2017	12.8	13.1	10.4	-0.3
Feb 14, 2017	10.4	15	16.6	-4.6
Jan 17, 2017	16.6	18.3	13.8	-1.7
Dec 13, 2016	13.8	14	13.8	-0.2
Nov 15, 2016	13.8	8.1	6.2	5.7
Oct 11, 2016	6.2	4.3	0.5	1.9
Sep 13, 2016	0.5	2.5	0.5	-2
Aug 16, 2016	0.5	2	-6.8	-1.5
Jul 19, 2016	-6.8	9.1	19.2	-15.9
Jun 21, 2016	19.2	4.7	6.4	14.5
May 24, 2016	6.4	12	11.2	-5.6
Apr 19, 2016	11.2	8	4.3	3.2
Mar 22, 2016	4.3	5	1	-0.7
Feb 16, 2016	1	0	10.2	1
Jan 19, 2016	10.2	8.2	16.1	2
Dec 15, 2015	16.1	15	10.4	1.1
Nov 17, 2015	10.4	6	1.9	4.4
Oct 13, 2015	1.9	6	12.1	-4.1
Sep 15, 2015	12.1	18.4	25	-6.3
Aug 11, 2015	25	32	29.7	-7
Jul 14, 2015	29.7	30	31.5	-0.3
Jun 16, 2015	31.5	37.1	41.9	-5.6
May 19, 2015	41.9	49	53.3	-7.1