[ D] Main Navigation
- 4.0: Home .
- 5.0: Research .
- 6.0: Publications .
- 7.0: Events .
- 8.0: Professional Training .
- 9.0: The ZEW .
- 10.0: Staff .
- 11.0: Career .
- 12.0: Contact .
- 14.0: Print page .
[ D] 
Gunter Grittmann
Head of Information and Communication
E-mail: grittmann@zew.de
Phone: +49 (0)621-1235-132
Fax: +49 (0)621-1235-255
Kathrin Böhmer
Public Relations Officer
E-mail: boehmer@zew.de
Phone: +49 (0)621-1235-103
Fax: +49 (0)621-1235-225
Economic expectations for Central and Eastern Europe including Turkey (CEE) have increased by 9.2 points in May 2012. Consequently, the ZEW-Erste Group Bank Economic Sentiment Indicator CEE currently manoeuvres at 14.6 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has decreased by 12.6 points to a level of 10.8 points in May 2012. Thus, the indicator has deteriorated for the first time after registering five consecutive increases. read more
After a weak winter half year, the German economy is on the rise again. The institutes forecast an increase of the real GDP by 0.9 per cent for 2012 and by 2.0 per cent for 2013. The situation on the labour market will improve further and the number of unemployed persons will decrease to 2.8 million in 2012. read more
Economic expectations for Central and Eastern Europe including Turkey (CEE) have declined by 11.2 points in April 2012. Consequently, the ZEW-Erste Group Bank Economic Sentiment Indicator CEE currently manoeuvres at the 5.4 points-mark. This reverses to some extent the indicator's major increase displayed in the previous month (March 2012: up 36.1 points). The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW) with the support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 1.1 points to a level of 23.4 points in April 2012. Thus, the indicator has risen for the fifth consecutive time. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has increased by 36.1 points in March 2012 to a level of 16.6 points, hence reaching positive territory for the first time since May 2011. At the same time, economic sentiment for the eurozone rose by 36.0 points to a level of 4.6 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, with support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 16.9 points to a level of 22.3 points in March 2012. Thus, the indicator has risen for the fourth consecutive time. It displays its highest level since June 2010. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has increased by 7.1 points in February 2012 to a level of minus 19.5 points. Economic Expectations for the eurozone have also slightly increased by 1.3 points to a level of minus 31.4 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 27.0 points to a level of 5.4 points in February 2012. The indicator reaches thus positive territory for the first time since May 2011. A higher value was last seen in April 2011. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has improved by 14.8 points and reaches a level of minus 26.6 points in January 2012. The increase in experts’ expectations is consistent with their overall expectations for the eurozone. The respective indicator for the eurozone has significantly increased by 30.9 points to a level of minus 32.7 points – the highest level since July 2011. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 32.2 points in January 2012. The indicator now stands at minus 21.6 points. This is the highest level of the indicator since July 2011. Nevertheless, the indicator is still below its historical average of 24.5 points. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has slightly decreased by 4.6 points in December 2011 to a level of minus 41.4 points. Economic expectations for the eurozone have declined by 8.3 points to a level of minus 63.6 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW) in Mannheim, with the support of Erste Group Bank in Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 1.4 points in December 2011. The indicator now stands at the minus 53.8 level. This slight increase marks the end of a nine-month lasting downward trend. The current value is below the indicator’s historical average of 24.6 points. read more
During the next year, a slight decrease in the Eurozone’s inflation rate can be expected. At least, this is the opinion of the majority of the 238 financial market experts surveyed by the Centre for European Economic Research (ZEW), Mannheim, in November 2011. The experts estimate an average inflation rate of 2.52 per cent for 2012. Compared with 2011, for which they forecast an inflation rate of 2.65 per cent, this would mean a slight decrease. This assessment may be explained mainly by the tarnishing economic outlook. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe (CEE) has decreased by 11.8 points in November 2011 to a level of minus 36.8 points. The decline almost fully reverses last month’s increase (October: up 13.0 points). read more
The ZEW Indicator of Economic Sentiment for Germany has decreased by 6.9 points in November 2011. This is the ninth decline in a row. The indicator now stands at minus 55.2 points. This value is below the indicator’s historical average of 25.0 points. A lower value of the indicator was last seen in October 2008. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has increased by 13.0 points in October 2011 for the first time in the last five months. The indicator has climbed up to the minus 25.0 points mark. Economic expectations for the eurozone have also increased by 18.3 points to a level of minus 49.1 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has decreased by 5.0 points in October 2011. This is the eighth decline in a row. The indicator now stands at minus 48.3 points. This value is below the indicator’s historical average of 25.3 points. A lower value of the indicator was seen last in November 2008. read more
In the summer of 2011, the outlook for the global economy clearly deteriorated. Especially the sovereign debt crisis is threatened to turn into a bank crisis among Europe. This is increasingly affecting the German economy. The grown insecurity will put at risk domestic demand, and foreign trade might stop contributing to the expansion due to the difficult situation of important trading partners. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 5.7 points in September 2011. This is the seventh decline in a row. The indicator now stands at minus 43.3 points. This value is below the indicator’s historical average of 25.6 points. A lower value of the indicator was seen last in December 2008. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has declined significantly by 21.4 points in August 2011. The indicator which displays the expectations of the surveyed financial market experts regarding the economic development in the CEE region on a six-month time horizon now stands at minus 26.4 points. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 22.5 points in August 2011. The indicator now stands at minus 37.6 points. This value is below the indicator’s historical average of 25.9 points. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has declined slightly by 2.5 points to minus 5.0 points in July 2011. In comparison to last month’s major decrease the current development rather displays a stabilisation in experts’ expectations. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW) in Mannheim, with the support of Erste Group Bank, Vienna, since 2007. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 6.1 points in July 2011. The indicator now stands at minus 15.1 points. This value is below the indicator’s historical average of 26.2 points. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) decreases by 23.4 points to minus 2.5 points in June 2011. read more
Economic expectations for Switzerland have diminished for the second month in a row. The ZEW-CS Indicator has dropped by 12.8 points to the minus 24.3 mark in June. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 12.1 points in June 2011. The indicator now stands at minus 9.0 points. This value is below the indicator’s historical average of 26.3 points. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has slightly increased by 2.2 points to 20.9 points in May 2011. The indicator for the inflation concerns in the CEE region has displayed a double digit drop by 23.9 points in this month’s survey. This is the first decline of the indicator in this year and the largest decrease among all economies included in the survey. read more
Economic expectations for Switzerland deteriorated in May 2011. The relevant ZEW-CS-Indicator dropped by 20.3 points to the minus 11.5 threshold. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 4.5 points in May 2011. The indicator now stands at 3.1 points. This value is below the indicator’s historical average of 26.5 points. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has increased by 4.8 points to 18.7 points in April 2011. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly since 2007 by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna. read more
Economic expectations for Switzerland brightened up again in April 2011, with the relevant ZEW-CS-Indicator edging up 22.3 points to the 8.8 threshold, moving into positive territory again for the first time since August 2010. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 6.5 points in April 2011. The indicator now stands at 7.6 points. This value is below the indicator’s historical average of 26.6 points. read more
In the spring of 2011, the global economy is on the upswing, in particular due to the momentum in emerging economies. Germany is also experiencing a strong economic recovery. The institutes expect that the German Gross Domestic Product (GDP) will increase by 2.8 per cent this year and by 2.0 per cent in 2012. For 2011 and 2012, an unemployment rate of 6.9 per cent and 6.5 per cent, respectively, is expected. read more
The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe including Turkey (CEE) has declined by 10.6 points to 13.9 points in March 2011. The weaker expectations for the economic development in Poland and Slovakia have mainly burdened the outlook for the CEE region in the current survey. The disastrous incidents in Japan didn’t show any influence on the assessment of the polled financial market experts. The answers of the experts concerning the expected economic development in the CEE region on a six-month time horizon which were collected prior to the severe earthquake do not significantly differ from the answers collected after the initial strong earthquake. read more
Economic expectations for Switzerland brightened up again in March, with the relevant ZEW-CS Indicator edging up 3.7 points to the minus 13.5 mark. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped by 1.6 points in March 2011. The indicator now stands at 14.1 points. This value is below the indicator’s historical average of 26.7 points. read more
The ZEW-Erste Group Bank CEE Economic Indicator for Central and Eastern Europe including Turkey (CEE region) has increased by 8.3 points to 24.5 points in February. The improvement of the economic expectations for the CEE region on a six month time horizon can be mainly ascribed to the positive outlook for the economies in Hungary and Poland. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly since 2007 by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna. read more
Economic expectations for Switzerland brightened up just marginally in February, with the relevant ZEW-CS-Indicator edging up by only 1.2 points to the minus 17.2 mark. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has remained almost unchanged in February 2011. The indicator has climbed by 0.3 points and now stands at 15.7 points. This value is below the indicator’s historical average of 26.7 points. read more
The ZEW-Erste Group Bank CEE Indicator for Central and Eastern Europe including Turkey (CEE region) has dropped by 6.5 points to 16.2 points in January 2011. The economic expectations for the CEE region on a six months time horizon are mostly influenced by the cautious expectations for Turkey. The economic expectations for the CEE region and other financial market data are surveyed monthly since 2007 by ZEW, Mannheim, with the support of Erste Group Bank, Vienna. read more
Economic expectations for Switzerland turned out to be somewhat more moderate in January 2011, with the relevant ZEW-CS-Indicator edging down by 5.9 points to the minus 18.4 mark. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has climbed by 11.1 points in January 2011. The indicator now stands at 15.4 points after 4.3 points in the previous month. This value is below the indicator’s historical average of 26.8 points. read more
The ZEW-Erste Group Bank CEE Indicator has dropped by 8.7 points in December 2010, now noting at 22.7 points. This reflects more cautious economic expectations on a six-months time horizon for Central and Eastern Europe, including Turkey (CEE) compared to the previous month. Economic sentiment and other financial market data for the CEE region are collected on a monthly basis by the Centre for European Economic Research (ZEW), Mannheim, in cooperation with the Erste Group Bank, Vienna. read more
Economic expectations for Switzerland brighten up in December. In the wake of some weak previous months, the relevant indicator edged up by 18.4 points, reaching the minus 12.5 mark. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has climbed by 2.5 points in December 2010. The indicator now stands at 4.3 points after 1.8 points in the previous month. This value is below the indicator’s historical average of 26.8 points. read more
The ZEW- Erste Group Bank CEE indicator rises by 12.1 points reaching 31.4 points in November. Thus, the economic expectations on a six months time horizon for the Central and Eastern Europe region including Turkey (CEE-region) improve significantly in the current survey in comparison to the previous month. The economic sentiment indicators for the CEE region are surveyed monthly together with other financial market data by the Centre for European Economic Research (ZEW), Mannheim, with the support of the Erste Group Bank, Vienna. read more
Economic expectations for Switzerland continued to deteriorate slightly in November. In the wake of the much more significant decline in the previous month, the relevant indicator edged down by 3.4 points, reaching the minus 30.9 mark. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has climbed by 9.0 points in November 2010. The indicator now stands at 1.8 points after minus 7.2 points in the previous month. This value is below the indicator’s historical average of 26.9 points. read more
Since October, the ZEW-Erste Group survey for Central and Eastern Europe (CEE region) has expanded by the inclusion of Turkey. Thus, the analyzed CEE region comprises one additional country and the assessment of the financial market experts from Turkey is incorporated in the calculation of all indicators. Furthermore, separate indicators are formed for Turkey. Due to these changes a direct comparison of the current results with the results from the previous months is not entirely possible. read more
Economic expectations for Switzerland continued to diminish significantly in October. The ZEW-CS Indicator dropped by 22.4 points, dipping into very negative territory at minus 27.5 points. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has dropped slightly by 2.9 points in October 2010. The indicator now stands at minus 7.2 points after minus 4.3 points in the previous month. This value is below the indicator’s historical average of 27.0 points. read more
The economic expectations for Central and Eastern Europe (CEE) decline by 3.2 points in September. The CEE indicator which reflects the assessment of the financial market experts regarding the economic development in the CEE region on a six months time horizon reaches the 17.3 points mark. Nearly half of the survey participants do not predict any change regarding the development of the business cycle for the next half year in the CEE region. These "neutral" answers, however, do not flow into the calculation of the indicator itself. The economic expectations for the CEE region are surveyed monthly together with other financial market data by the Centre for European Economic Research (ZEW) with support of the Erste Group Bank. read more
The ZEW-CS-Indicator of Economic Sentiment for Switzerland has declined by 14.2 points, retreating to the minus 5.1 mark in September. In the wake of a short-lived improvement in August, the Indicator has diminished considerably in September, dropping to the lowest level since April 2009. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW)in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany drops by 18.3 points in September 2010. The indicator now stands at minus 4.3 points after 14.0 points in the previous month. This value is below the indicator’s historical average of 27.2 points. read more
The economic sentiment indicator CEE which reflects the assessment of the financial market experts regarding the economic development in Central and Eastern Europe (CEE) on a six months time horizon increases by 9.1 points in August. Thus, the economic expectations reach the 20.5 points mark. The economic expectations for the CEE region are surveyed monthly together with other financial market data by the Centre for European Economic Research (ZEW) with the support of the Erste Group Bank, Vienna. read more
Economic Expectations for Switzerland brighten up again somewhat in August. The relevant ZEW-CS- Indicator recorded a gain of 6.9 points, reaching the 9.1 mark. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany drops by 7.2 points in August 2010. The indicator now stands at 14.0 points after 21.2 points in the previous month. This value is below the indicator’s historical average of 27.3 points. read more
Now is the right time for politicians to change the course from stimulating the economy, e.g. by providing loan and bail-out programmes, to a policy of savings. This is the opinion of 263 financial market experts who were surveyed by the Centre for European Economic Research (ZEW) in its monthly ZEW Financial Market Test. read more
The economic expectations for Central and Eastern Europe (CEE) decrease by 9.0 points in July. The CEE indicator which reflects the evaluation of the financial market experts regarding the economic development on a six months time horizon reaches 11.4 points in this month’s survey. The economic outlook for the CEE region is surveyed together with other financial market data monthly by the Centre for European Economic Research (ZEW) with the support of the Erste Group Bank, Vienna. read more
The ZEW-CS-Indicator of Economic Sentiment for Switzerland declines by 15.3 points in July and is now hovering just slightly in positive territory at the 2.2 mark. After a stable phase since September 2009, the Indicator has now deteriorated considerably for the third consecutive month. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany drops by 7.5 points in July 2010. The indicator now stands at 21.2 points after 28.7 points in the previous month. This value is below the indicator’s historical average of 27.4 points. read more
The economic expectations in the CEE-region decrease by 14.8 points to 20.4 points in June. 40.9 percent of the financial market experts continue to expect an improvement of the business cycle in the CEE region within the next six months. The CEE indicator which reflects the evaluation of the economic expectations in Central and Eastern Europe on a six months time horizon is surveyed together with other financial market data monthly by the Centre for European Economic Research, Mannheim, with the support of the Erste Group Bank, Vienna. read more
Once again the ZEW-CS-Indicator of Economic Sentiment for Switzerland diminishes considerably in June. The relevant ZEW-CS-Indicator lost ground by 23.0 points and is now hovering at the 17.5 mark. After a stable phase since September 2009, the Indicator has now deteriorated considerably for the second consecutive month. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany drops by 17.1 points in June 2010. The indicator now stands at 28.7 points after 45.8 points in the previous month. This value is slightly above the indicator’s historical average of 27.4 points. read more
The economic indicator for Central and Eastern Europe (CEE) increases by 7.2 points to 35.2 points in May. According to the financial market experts, the CEE region seems to be only marginally affected by the uncertainty regarding the debt crisis of certain Eurozone countries. The CEE indicator is conducted monthly together with further financial market data by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. It reflects the assessment of the economic expectations for the CEE region on a six months time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany drops by 7.2 points in May 2010. The indicator now stands at 45.8 points after 53.0 points in the previous month. This value is well above the indicator’s historical average of 27.4 points. read more
The economic expectations for Central and Eastern Europe (CEE) decrease by 9.3 points to 28.0 points in April. Thus, the CEE economic sentiment indicator remains positive. The majority of financial market experts (48.0 percent) expect an unchanged development of the business cycle on a six month horizon. The CEE indicator is conducted monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support from the Erste Group Bank, Vienna. read more
In April the ZEW-CS-Indicator of Economic Sentiment for Switzerland paints a nearly unchanged picture of the prospects for the Swiss economy on a six month time frame. Economic expectations edged down marginally by 0.4 points to the 53.4 mark. Thus, the ongoing sideways trend hovering at a relatively high level the last few months continues to prevail. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany increases by 8.5 points in April 2010. The indicator now stands at 53.0 points after 44.5 points in the previous month. This value is well above the indicator’s historical average of 27.3 points. read more
The economic sentiment indicator for Central and Eastern Europe (CEE region) increases in March by 16.8 points to 37.3 points. The CEE indicator is conducted monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support from the Erste Group Bank, Vienna. It reflects the assessment of the economic development for the CEE region on a six months time horizon. read more
The ZEW-CS-Indicator of Economic Sentiment for Switzerland brightens up by 1.3 points to the 53.8 mark in March. This reveals the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany moved sidewards in March 2010. The indicator now stands at 44.5 points after 45.1 points in the previous month. This value is well above the indicator’s historical average of 27.2 points. read more
Small and medium-sized enterprises were strongly affected by the severe economic crisis in 2009. However, small and medium-sized enterprises overall stabilised the economy. Large economies aiming to a large extend at the global market were especially affected by the recession. The crisis did not affect small and medium-sized enterprises that much as these enterprises focus on the domestic market. The economic crisis negatively affected the profit situation. Nevertheless, most small and medium-sized enterprises still want to make investments. Many enterprises plan to at least make replacement and rationalisation investments to keep their manufacturing plants up to date. Moreover, the majority of small and medium-sized enterprises want to bind professionals to their firms. The economic environment remains fragile. The expected increase in GDP for 2010 by about 1.5 percent is too small to overcome the effects of the crisis. read more
The economic expectations for Central and Eastern Europe (CEE region) decline by 38.6 points to 20.5 points in February. Nevertheless, the ZEW-Erste Group Bank Sentiment Indicator remains in the positive range. The indicator reflects the expectations of the financial market experts regarding the economic development in the CEE region on a six month time horizon. It is calculated on a monthly basis by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. The decline of the indicator can be put into perspective by the fact that the share of survey participants expecting an unchanged economic development in the CEE region within the next half year increases 10.2 percentage points to 34.7 percent. These answers are not incorporated into the calculation of the sentiment indicator. read more
The ZEW-CS-Indicator of Economic Sentiment for Switzerland declines by 3.7 points, reaching the 52.5 mark in February. However, the indicator still continues to hover at a relatively high level. This is revealed by the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany decreased by 2.1 points in February 2010. The indicator now stands at 45.1 points after 47.2 points in the previous month. This value is well above the indicator’s historical average of 27.1 points. read more
The ZEW-Erste Group Bank Sentiment Indicator CEE that reflects the business outlook for Central and Eastern Europe (CEE) increases by 7.1 points to 59.1 points in January. 67.3 percent of the polled financial market experts expect the economic situation to improve in the region till mid of the year. The CEE Indicator is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. It reflects the assessment of the economic development for the CEE region on a six months time horizon. read more
The ZEW-CS-Indicator of Economic Sentiment for Switzerland edged up in January 2010 by 2.2 points, reaching the 56.2 mark. The current rise outweighs the indicator’s slight decline noted in December 2009. This reveals the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany decreased by 3.2 points in January 2010. The indicator now stands at 47.2 points after 50.4 points in the previous month. This value is still well above the indicator’s historical average of 27.1 points. read more
The outlooks for stock markets in Germany and the USA are quite poor. A final result of an average of about 6,150 points is expected for the German stock market index DAX in 2010. In mid-December the DAX stood at almost 5,900 points and therefore the final result can be seen as a sideward movement rather than an increase. The American Dow Jones Index’s slight increase to the expected 10,650 points is hardly worth mentioning. This is the rather gloomy outlook of the 244 financial market experts surveyed in December 2009 by the Centre for European Economic Research (ZEW), Mannheim. read more
The economic expectations for Central and Eastern Europe (CEE) improve considerably by 21.1 points, reaching 52.0 points in December. 60 percent of the financial experts surveyed expect an improvement of the economic situation in this region within the next six months. Consequently, the observed decline of the CEE indicator in the previous month only seems to be a onetime adjustment. The CEE indicator together with other financial market indicators is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, with support from Erste Group Bank, Vienna. It reflects the expectations for the economic development of the CEE region for the next six months. read more
Economic expectations for the next six months for Switzerland edged down slightly again in December. The ZEW-CS- Indicator dipped by 2.4 points to the 54.0 mark. This reveals the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). At the same time, the assessment of the prevailing economic picture brightened up a little, with the corresponding indicator climbing by 3.3 points to the minus 42.9 level. read more
The ZEW Indicator of Economic Sentiment for Germany decreased slightly by 0.7 points in December 2009. The indicator now stands at 50.4 points after 51.1 points in the previous month. This value is still well above the indicator’s historical average of 27.0 points. read more
The upward trend of the economic sentiment indicator for Central and Eastern Europe (CEE) is interrupted for the time being. The indicator that reflects the economic expectation within a six month time horizon for the CEE region drops 20.0 points. However, the indicator remains positive at 30.9 points. The sentiment indicator is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. read more
Economic expectations for Switzerland diminished somewhat in November. In the wake of the strong surge recorded in previous months, the relevant ZEW-CS-Indicator lost ground by 8.6 points, but continued to hover at a high level of 56.4 points. This reveals the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany decreased slightly by 4.9 points in November 2009 and now stands at 51.1 points after 56.0 points in the previous month. This value is still well above the indicator’s historical average of 26.9 points. read more
The expectations of financial market experts for the economic development in Central and Eastern Europe have further improved in October. The CEE Economic Sentiment Indicator which is monthly calculated by the Centre for European Economic Research (ZEW), Mannheim, with support of Erste Group Bank, Vienna, climbs 12.1 points to 50.9 points in the current survey. Thus, the upswing that has started early this year continues. read more
Economic expectations for Switzerland continued to improve in October 2009. The relevant ZEW-CS Indicator of Economic Sentiment increased by 7.0 points month-on-month, reaching the 65.0 mark. Accordingly, a majority of 67.5 percent of the financial market experts surveyed predict that the economic momentum will improve over the next six months. Only 2.5 percent expect the economy to deteriorate. This is the result of the current Financial Market Test Switzerland, carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). read more
The ZEW Indicator of Economic Sentiment for Germany remains almost unchanged in October 2009. It slightly declines by 1.7 points and now stands at 56.0 points after 57.7 points in the previous month. This value is still well above the indicator’s historical average of 26.7 points. read more
The upward trend of the ZEW-Erste Group Bank Sentiment Indicator for Central and Eastern Europe (CEE) continues in September 2009. Expectations concerning the economic development over the next half year improve by 2.8 points with the index rising to 38.8 points. While 48.1 percent of the surveyed experts anticipate an improvement only 9.3 percent of the participants assume the business activity in the CEE region to worsen within the next six months. The amount of experts anticipating no change has significantly increased to 42.6 percent. read more
According to the Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS), economic expectations continued to brighten up noticeably in September 2009. The ZEW-CS Indicator of Economic Sentiment surged by 39.4 points, reaching the 58.0 threshold. The indicator for the assessment of the current economic situation also markedly surpassed the previous month’s level, climbing by 17.1 points to reach minus 62.0 points. read more
The ZEW Indicator of Economic Sentiment for Germany remained almost unchanged in September 2009. The indicator rose by 1.6 points and now stands at 57.7 points after 56.1 points in the previous month. This value is well above the indicator’s historical average of 26.6 points. read more
The ZEW-Erste Group Bank economic sentiment indicator for Central and Eastern Europe is characterised by a strong increase in August. The balance reflecting the financial experts’ economic expectations for the CEE region on a six months horizon gains 32.0 points in value, reaching 36.0 points. After an adjustment of the indicator in July, the perceived optimism of the past half year seems to grow further. 56.0 percent of all questioned analysts anticipate a rebound of the economy, compared to only 20.0 percent forecasting a further slowdown. read more
The economic expectations for Switzerland have improved again in August. This reveals the current Financial Market Test for Switzerland which is carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). After its decline in the previous month, the ZEW–CS indicator of economic expectations has continued to follow its uptrend which started at the beginning of 2009, climbing in August from the neutral level of 0.0 to the 18.6 mark. read more
The ZEW Indicator of Economic Sentiment for Germany increased considerably in August 2009. The indicator rose by 16.6 points and now stands at 56.1 points after 39.5 points in the previous month. This value is well above the indicator’s historical average of 26.5 points. read more
After the upward trend of the business forecast for the CEE region in the previous six months, the financial experts have adjusted their expectations downwards in July. The CEE sentiment indicator loses 16.4 points to 4.0 points at present. Nonetheless, with a share of 38.8 percent the majority of the respondents anticipate an unchanged cyclical development in the CEE area for the upcoming half year. The economic sentiment indicator CEE is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. A similar downwards adjustment was observed in July for the ZEW Sentiment Indicator for Germany as well as for the ZEW/Credit Suisse Economic Indicator for Switzerland. read more
According to the Financial Market Survey Switzerland, economic expectations diminished somewhat in July. In the wake of continuously climbing in the first half of 2009, the relevant ZEW/ Credit Suisse indicator edged down by 9.7 points, reaching the neutral threshold of zero. The indicator for the assessment of the current economic situation dipped slightly below the previous month's mark in July, down 2.5 points to the minus 70.2 level. The Financial Market Test Switzerland is carried out monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse. read more
The ZEW Indicator of Economic Sentiment for Germany slightly declined in July 2009. The indicator dropped by 5.3 points and now stands at 39.5 points after 44.8 points in the previous month. This value is above the indicator’s historical average of 26.3 points. read more
The optimism for the economic development in Central and Eastern Europe (CEE) strengthens in June. The ZEW/Erste Group Bank sentiment indicator for the CEE region has risen by 14.4 points to 20.4 points. The CEE indicator is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, with support from the Erste Group Bank, Vienna. read more
According to the Financial Market Survey Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS), economic expectations continued to brighten up further in June. The ZEW-CS-Indicator climbed back into positive territory for the first time since September 2006, reaching the 9.7 mark (up 13.6 points). read more
The ZEW Indicator of Economic Sentiment for Germany improved in June 2009. This is the eighth month in a row with an increase. The indicator rose by 13.7 points and now stands at 44.8 points after 31.1 points in the previous month. This value is above the indicator’s historical average of 26.3 points. read more
The financial experts’ business outlook for Central and Eastern Europe (CEE) improves by 9.9 points in May. Currently standing at 6.0 points, the ZEW/Erste Group Bank sentiment indicator CEE has turned positive for the first time since September 2007. read more
The economic expectations for Switzerland on a six-month horizon have brightened up once again in May. This reveals the Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse. The ZEW-CS indicator increased in May by 23.8 points to the minus 3.9 threshold, but is still hovering just barely in negative territory. read more
The ZEW Indicator of Economic Sentiment for Germany continued to improve in May 2009. The indicator rose by 18.1 points and now stands at 31.1 points after 13.0 points in the previous month. This is above its historical average of 26.2 points. read more
The economic outlook for Central and Eastern Europe (CEE) keeps on recovering in April 2009. The CEE sentiment indicator, reflecting the surveyed analysts’ economic expectations on a six month time horizon rises in the current survey by 28.8 points to minus 3.9 points. Hence, in accordance to the positive development of other indicators, the recovery prospects of the analysed CEE countries improve. Nonetheless, more than 45 percent of the questioned financial experts forecast no significant change of the business cycle in the region. The CEE indicator is captured monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Group Bank AG, Vienna. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reflects in April a less pessimistic assessment of the economic outlook for Switzerland on a six-month horizon. The ZEW-CS indicator of economic expectations increased by 29.4 points to the minus 27.7 mark. At the same time, however, the indicator for the assessment of the current economic situation declined by 8.9 points to the minus 66.0 level. read more
The ZEW Indicator of Economic Sentiment for Germany continued to improve in April 2009. It rose by 16.5 points and now stands at 13.0 points after minus 3.5 points in the previous month. For the first time since July 2007, the indicator realises a positive value, albeit it is still below its historical average of 26.1 points. read more
Direct investments in financial institutions by the Federal State and the establishment of a "bad bank light" is the most suitable way of reorganising German banks which were financially damaged by the economic crisis. In contrast, the full nationalisation of banks and the establishment of a "bad bank" would not provide an appropriate basis for recovering the stability of the financial market. This reflects the expectations of the majority of the 274 financial market experts surveyed by the Centre for European Economic Research (ZEW). read more
The economic outlook for Central and Eastern Europe (CEE) has further stabilised in March. The CEE sentiment indicator, which is calculated as the balance of negative and positive assessments with regard to the expected economic development on a six month horizon, increases marginally by 0.6 points in the current survey reaching minus 32.7 points. The steep rise of the previous months has slowed down and a majority of the questioned financial experts now consider an unchanged business cycle within the coming six months to be most probable for the CEE region. The CEE sentiment indicator is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Group Bank AG, Vienna. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, paints a nearly unchanged picture of the prospects for the Swiss economy on a six month time frame. In fact, the ZEW-CS-Indicator of economic expectations edged up marginally by just 0.6 points to the minus 57.1 mark. The indicator for the assessment of the current economic situation in Switzerland continued to worsen in March. The respective indicator drops 11.8 points and also reaches the minus 57.1 mark. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly in March 2009. The indicator rose by 2.3 points and now stands at minus 3.5 points after minus 5.8 points in the previous month. This is still well below its historical average of 26.2 points. read more
The recession hit German small and medium-sized enterprises (SMEs) in the course of 2008, especially during the second half of the year. However, internationally orientated large companies, in particular from the industrial sector, have been more severely affected by the crisis so far. The business climate of small and medium-sized enterprises deteriorated rapidly and significantly in the course of 2008 because of the global economic downturn, which had already started in the middle of the year and considerably intensified due to the financial crisis. read more
Concerns about the difficult economic conditions in some Central- and Eastern European countries have caused turbulences on the stock and exchange markets recently. In the February "ZEW Financial Market Survey CEE", the analysts acknowledge the currently fraught situation. The indicator reflecting the assessment of the present economic situation in Central and Eastern Europe (the CEE region), which is calculated monthly by the Centre for European economic Research (ZEW), supported by the Erste Group Bank, loses 0.7 points and now reaches minus 58.1 points in February. Its currently low value indicates that the respondents take a pessimistic view on the business conditions in the CEE area. read more
The February Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals once again that the prospects for the Swiss economy have brightened up just slightly on a six-month horizon. Accordingly, the ZEW-CS-Indicator of economic expectations edges up by 9.0 points to the minus 57.7 mark in February. At the same time, however, the indicator for the assessment of the current economic situation dips by 4.6 points to the minus 45.3 level. read more
The ZEW Indicator of Economic Sentiment for Germany increased in February 2009 once again. The indicator rose by 25.2 points and now stands at minus 5.8 points after minus 31.0 points in the previous month. This is still well below its historical average of 26.4 points. read more
The financial market experts surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Group Bank AG, Vienna, are considerably more optimistic about the economic development in Central and Eastern Europe (CEE) at the beginning of the new year than in December 2008. The CEE indicator reflecting the analysts’ economic expectations on a six month time horizon increases significantly by 15.0 to minus 49.1 points in January 2009. Hence, the economic prospects have improved for the first time since the aggravation of the financial crisis in September 2008. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, revealed in January that the economic outlook improved somewhat on a six-month horizon. Consequently, the ZEW-CS indicator of economic expectations edged up by 9.5 points to the -66.7 mark in January. read more
The ZEW Indicator of Economic Sentiment for Germany increased in January 2009 once again. The indicator rose by 14.2 points and now stands at minus 31.0 points after minus 45.2 points in the previous month. This is still well below its historical average of 26.5 points. read more
The sentiment indicator for Central and Eastern Europe which shows the economic expectations of the financial market experts surveyed by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Group Bank AG, Vienna, declines in December by 9.6 points to minus 64.1 points. In contrast the survey participants assess the current economic conditions in the CEE region clearly better than in November. The respective balance increases by 13.5 points to minus 9.5 points this month. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, revealed in December that economic prospects brightened up just a little at a very low level. The ZEW-CS indicator of economic expectations edged up by 12.3 points compared with the previous month’s and is now hovering at the -76.2 mark. Although respondents view the current economic situation in a slightly more optimistic light compared to last month’s results, the corresponding balance improved by merely 6.2 points and remains in negative territory at the -7.2 threshold. read more
The ZEW Indicator of Economic Sentiment for Germany increased in December 2008 by 8.3 points. The indicator now stands at minus 45.2 points after minus 53.5 points in the previous month. This is still well below its historical average of 26.8 points. read more
The economic expectations of the financial experts for Central and Eastern Europe recede slightly by 3.4 points in November, reaching minus 54.5 points. Most of the CEE countries are only marginally affected by the financial crisis and the economic momentum in most CEE economies does not lose much steam so far. Nevertheless, the majority of the questioned experts (65.9 percent) are not persuaded that the competitive advantages of the fast-growing CEE countries will obviate the transmission of the impending economic slowdown from the Eurozone and anticipate also a decelerating economic development in the CEE region. read more
The November Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals that economic prospects have improved slightly in November, but continue to hover at a very low level. The ZEW-CS indicator of economic expectations edged up by 2.6 points to the minus 88.5 mark. read more
The ZEW Indicator of Economic Sentiment for Germany increased in November 2008 by 9.5 points. The indicator now stands at minus 53.5 points after minus 63.0 points in the previous month. This is still well below its historical average of 27.1 points. read more
The intensified crisis of confidence and the concerns about possible implications for the real economy have a negative impact on the economic expectations for the CEE-region. The CEE sentiment indicator, which is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Group Bank AG, Vienna, drops by 20.5 points to minus 51.1 points in the current survey. read more
The October Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals that the economic outlook for Switzerland has deteriorated considerably. The ZEW-CS-indicator of economic expectations fell by 46.7 points to -91.1 points. Only 2.2 percent of the respondents expect the economic environment to improve over a six-month horizon. read more
The ZEW Indicator of Economic Sentiment for Germany dropped in October 2008 by 21.9 points. The indicator now stands at minus 63.0 points after minus 41.1 points in the previous month. This is still well below its historical average of 27.5 points. read more
The economic expectations for Central and Eastern Europe (CEE) improve slightly once again in September. In the current survey, the ZEW-Erste Group Bank Sentiment Indicator CEE that shows the balance of positive and negative assessments of the economic outlook within the next six months, increases by 0.7 points to currently minus 30.6 points. A growing majority of financial market experts (61.2 percent) forecasts an unchanged development of the business cycle in the CEE region within the next six months. read more
Economic prospects for Switzerland have brightened up slightly in September. This is one result of the latest Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse. Consequently, the ZEW-CS-indicator of economic expectations increased by 35.2 points to the -44.4 mark. Although roughly 11 percent of the respondents expect the picture to improve on a six-month horizon, more than 50 percent of the financial market experts still forecast that the economic environment will continue to be dampened. The analysts convey a somewhat more pessimistic assessment of the current economic situation compared with the previous month’s view. The corresponding balance declines in September by 8.7 points to the 17.8 level. Inflation as well as interest rate expectations diminished once again in the September survey, with the relevant balances dropping by 18.1 points to the -46.7 mark and by 4.8 points to the -6.8 level, respectively. In the interim, more than 20 percent of survey participants believe that short-term interest rates will decline in the coming six months. This month’s "special question" shows that the majority of respondents regard current valuation levels on the Swiss real estate market as appropriate. read more
The ZEW Indicator of Economic Sentiment for Germany improved in September 2008 by 14.4 points. The indicator now stands at minus 41.1 points after minus 55.5 points in the previous month. This is still well below its historical average of 28.0 points. read more
The economic expectations for Central and Eastern Europe (CEE), which are ascertained monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by Erste Bank der oesterreichischen Sparkassen AG, Vienna, stabilise in August. The CEE sentiment indicator that shows the balance of positive and negative assessments of the economic outlook in the next six months improves slightly by 0.1 points to currently minus 31.3 points. read more
The latest Financial Market Survey Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals that expectations regarding the Swiss economy diminished again in August. The ZEW-CS indicator of economic expectations edged down by 2.7 points to the -79.6 mark. The financial experts also viewed the current economic environment in a worse light in this month’s survey, with the relevant balance of indicators declining to the 26.5 level (down 14.5 points). Inflation expectations as well as expectations for short-term interest rates were noticeably dampened. Roughly 45.0 percent of survey participants anticipate that inflation rates will retreat on a six-month horizon. The share of financial market specialists who predict that short-term interest rates will increase also shrank considerably in August. Instead, the overriding majority of analysts believe that rates will hold steady. This month’s “special question” revealed that most respondents do not expect the forthcoming round of wage negotiations in Switzerland to pose any danger for price stability. read more
The ZEW Indicator of Economic Sentiment for Germany improved in August 2008 by 8.4 points and now stands at minus 55.5 points after minus 63.9 points in the previous month. This is still well below its historical average of 28.3 points. read more
The downward trend of the sentiment indicator for Central and Eastern Europe (CEE), which is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Bank der oesterreichischen Sparkassen AG, Vienna, flattens in July. The economic expectations of the financial market experts for the CEE region worsen by 2.7 points to currently minus 31.4 points. In contrast to this rather moderate decline, the outlook for the Eurozone dropped 14.7 points to an all-time low of minus 51.0 points in July. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, continues to deteriorate noticeably in July. The balance of the ZEW-CS indicator of economic expectations for Switzerland declines from -63.8 to the -76.9 points. The analysts also expressed a less positive view of the current economic situation, so the balance of indicators recedes from 53.2 to the 41.0 mark. On the other hand, inflation expectations have diminished somewhat: only a minority of respondents (35.9 percent) expects inflation rates to climb on a six-month horizon. The balance for short-term interest rate expectations remains in positive territory, although the majority of survey participants now anticipates that rates will remain unchanged. Within the scope of this month’s "special question," the financial experts were asked to convey their assessment regarding the effects of high inflation rates on the Swiss stock market. The analysts predict that the Swiss Market Index (SMI) will outperform the MSCI World Index amid times of high inflation and recommend investing in companies in the pharmaceuticals and food sectors. read more
The ZEW Indicator of Economic Sentiment for Germany dropped significantly in July 2008. The indicator decreased by 11.5 points and now stands at minus 63.9 points after minus 52.4 points in the previous month. This is still well below its historical average of 28.8 points. read more
The economic expectations of the financial market experts improve for the Czech Republic, Romania, Slovakia and Croatia in June. The outlook for the whole region Central and Eastern Europe (CEE) remains cautious for the time being, just like in the previous month. According to the current survey the CEE indicator, which is calculated monthly by the Centre for European Economic Research (ZEW) in Mannheim supported by the Erste Bank der Oesterreichischen Sparkassen AG in Vienna, as the balance of the positive and negative expectations for the economic development in the CEE region for a time period of six months, has declined by 4.6 points and now stands at minus 28.7 points. However, a large proportion of financial market experts (42.9 percent) expect no change in the economic situation of the region. The current situation in the CEE region is still assessed as positive - despite a minor decline in June - with a balance of 34.5 points. read more
The latest Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, continues to signal a weakening of the economic momentum on a six-month horizon. Accordingly, the ZEW-CS indicator of economic expectations for Switzerland dipped slightly in June by 3.4 points to the -63.8 mark. Assessments of the current economic picture proved to be somewhat less optimistic, with the balance of the respective indicator falling by 11.4 points to the 53.2 level. The largest proportion of survey participants (42.6 percent) still expects inflation rates to continue to climb further from their already high threshold. Overall, however, inflation expectations decreased versus the previous month, and the relevant indicator dropped by 20.5 points to reach 17,0 points. On the other hand, the share of financial market experts who anticipate an increase in short-term interest rates grew to 55.3 percent in June. The corresponding balance of interest rate expectations surged by 40.6 points to the 48.9 mark in this month’s survey. The responses to the June "special question" revealed that 34 percent of the analysts forecast an increase in the three-month LIBOR target rate to 3.0 percent, while another 25 percent of respondents predict that the rate will hold steady at 2.75 percent. read more
The ZEW Indicator of Economic Sentiment for Germany dropped significantly in June 2008. The indicator decreased by 11.0 points and now stands at minus 52.4 points after minus 41.4 points in the previous month. This is still well below its historical average of 29.2 points. read more
After a continuous improvement of the economic expectations for Central and Eastern Europe (CEE) during the last three months, experts appear to be more cautious in May. The CEE-Indicator, which is calculated monthly by the Centre for European Economic Research (ZEW), Mannheim, supported by the Erste Bank der oesterreichischen Sparkassen AG, Vienna, as the balance of the positive and negative expectations for the economic development in the CEE-region for a time period of six months, declines by 11.6 points to minus 24.1 points. Nevertheless, the majority of analysts expect the economic development to remain unchanged. read more
According to the survey results of the Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, economic prospects have brightened up slightly again in May. The relevant ZEW-CS-indicator for economic expectations increased by a noticeable 11 points, reaching the -60.4 mark. On the other hand, the experts’ assessment of the current economic picture remained nearly unchanged at the 64.6 level (down 0.7 points). Interest rate expectations rose considerably versus the previous month’s survey, although the clear majority of respondents continue to expect rates to hold steady in the coming six months. The corresponding balance of indicators jumped by 14.4 points to the 5.3 threshold. At the same time, inflation expectations increased in May too, with 54.2 percent of survey participants predicting that prices will continue to rise. This month’s “special question” addressed the prevailing issue of the trend in food prices, revealing that a slight majority of respondents expect prices to climb further in the medium term. read more
The ZEW Indicator of Economic Sentiment for Germany stabilized in May 2008. The indicator slightly decreased by 0.7 points and now stands at minus 41.4 points after minus 40.7 points in the previous month. This is still well below its historical average of 29.6 points. read more
The economic optimism for Central and Eastern Europe (CEE) continues to rise in April. This is signalled by a considerable increase of the CEE indicator by 9.9 points to now minus 12.5 points. It is the largest improvement since the indicator was implemented in Mai 2007. The CEE indicator is calculated on a monthly basis by the Centre for European Economic Research (ZEW), Mannheim, supported by Erste Bank der oesterreichischen Sparkassen, Vienna. The indicator shows the balance of positive and negative assessments of the economic outlook for Central and Eastern Europe over the next six months. The increasingly positive forecasts for the development of the CEE stock index and the expected inflation decrease also indicate a further improvement of the region’s economic sentiment. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with the Credit Suisse, revealed in April a nearly unchanged picture regarding the prospects for the Swiss economy compared to the previous month's survey. The relevant ZEW-CS-Indicator for economic expectations improved just slightly by 0.3 points to the -71.4 mark. Accordingly, the majority of respondents still anticipate that economic momentum will lose steam in the coming six months. On the other hand, the assessment of the current economic situation remains mostly upbeat (with the corresponding balance at 65.3 points). Precisely 38.8 percent of the survey participants expect no change in the inflation environment on a six-month horizon, while 24.5 percent (up 9.3 percent) expect a more moderate inflation rate in the future. Interest rate expectations remained unchanged for the most part in the April survey, with the lion’s share of respondents (73.5 percent) anticipating no change in short-term interest rates. The results of this month’s “special question” reveal that most of the financial experts forecast a lower current-account balance for 2008 in the wake of the record surplus registered last year. read more
The ZEW Indicator of Economic Sentiment for Germany declined in April 2008 by 8.7 points and now stands at minus 40.7 points after minus 32.0 points in the previous month. This is still well below its historical average of 30.0 points. read more
The economic sentiment indicator for Central and Eastern Europe (CEE), which is calculated on the basis of a monthly survey conducted by the Centre for European Economic Research (ZEW), supported by Erste Bank der oesterreichischen Sparkassen AG, Vienna, has recovered in March. The CEE indicator that shows the balance of positive and negative assessments of the economic outlook in the next six months rises by 6.4 points and now stands at minus 22.4 points. Not only the expectations but also the assessments of the current economic situation in the CEE region have improved markedly by 9.8 points and now stand at 40.0 points. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in co-operation with Credit Suisse, revealed in March that economic prospects continue to deteriorate. The relevant ZEW-CS-indicator for economic expectations declined by 16.2 points to the -71.7 mark. The assessment of the current economic situation edged down by 2.7 points to the 69.6 level in March. At the same time, inflation expectations diminished again, with only around 30 percent (down 9 percentage points versus the previous month) of survey participants still anticipating that inflation rates will continue to climb. Interest rate expectations have also decreased somewhat compared to the February survey results. The lion’s share of the respondents (78.3 percent) expects no change in short-term interest rates on a six-month horizon. Responses to this month’s "special question", however, showed that nearly half of the experts regard an interest rate level of less than 2.75 percent by year-end as a likely scenario. read more
The ZEW Indicator of Economic Sentiment for Germany rose in March 2008 by 7.5 points and now stands at minus 32.0 points after minus 39.5 points in the previous month. This is still well below its historical average of 30.3 points. read more
The economic sentiment indicator for Central and Eastern Europe (CEE), which is calculated on a monthly basis by the Centre for European Economic Research (ZEW), supported by Erste Bank der oesterreichischen Sparkassen, Vienna, has stabilised in February showing a slight increase of 0.2 points compared to the previous month. The CEE indicator, calculated as the balance of positive and negative assessments of the economic outlook over the next six months, is now taking a value of minus 28.8 points. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with the Credit Suisse, revealed that economic expectations diminished considerably in February. Hence, the relevant ZEW CS indicator declined by 22.8 points to the -55.6 mark. The assessment of the current economic situation deteriorated as well in February, although it still stands at a high level of 72.2 (down 13.3 points compared with the previous month). read more
The ZEW Indicator of Economic Sentiment for Germany improved in February 2008 by 2.1 points and now stands at minus 39.5 points after minus 41.6 points in the previous month. This is still well below its historical average of 30.7 points. read more
The monthly survey among financial experts conducted by the Centre for European Economic Research (ZEW), Mannheim, and supported by Erste Bank der oesterreichischen Sparkassen, Vienna, recorded slightly lower expectations for the Central and Eastern European (CEE) region’s economy in January. The CEE indicator, calculated as the balance of positive and negative assessments of the economic outlook over the next six months, fell by 6.3 points to -29.0 points. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with the Credit Suisse, revealed somewhat diminishing economic expectations in Switzerland again in January. The corresponding ZEW CS indicator dropped 3 points to the -32.7 mark. Although the assessment of the current economic situation still remains at a high threshold, the relevant balance dipped by 1.7 points to the 85.5 level. read more
The ZEW Indicator of Economic Sentiment for Germany decreased in January 2008 once again and now stands at minus 41.6 points after minus 37.2 points in the previous month. This is still well below its historical average of 31.0 points. read more
The economic expectations of the financial market experts who are surveyed by the ZEW, the Centre for European Economic Research, Mannheim, supported by Erste Bank der oesterreichischen Sparkassen, Vienna, for Central and Eastern Europe declined for the third month in a row. The drop of 5.0 points, however, measures low compared to the fall in previous months. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals a slight dampening of economic expectations in Switzerland. The relevant ZEW CS-indicator edges down slightly in December by 0.8 points to the -29.7 mark. At the same time, the assessment of the current economic situation improves by 4.5 points, reaching a threshold of 87.2. read more
The ZEW Indicator of Economic Sentiment for Germany decreased in December 2007 once again and now stands at minus 37.2 points after minus 32.5 points in the previous month. This is still well below its historical average of 31.4 points. read more
The financial market experts that are asked about their economic expectations for the CEE region in a monthly survey conducted by the ZEW, the Centre for European Economic Research, Mannheim, supported by Erste Bank der oesterreichischen Sparkassen, Vienna, are increasingly pessimistic. The sentiment indicator has decreased in November and now stands at -17.7 points. The experts' assessment of the current economic situation for Central and Eastern Europe is also lower compared to the previous month's survey but is still predominantly positive. The survey participants attest the Austrian economy to be in a good state, too, but economic expectations have declined markedly. read more
The Financial Market Test Switzerland, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals in November that the assessments of the current economic picture as well as economic expectations have diminished. Although analysts' evaluation of the current situation still stands at a high level of 82.7 points, the reading lags behind the previous month's mark by 11.3 points. The ZEW CS-indicator for economic expectations decreases in November by 12.9 points to the -28.9 threshold. read more
The ZEW Indicator of Economic Sentiment for Germany decreased significantly in November 2007 and now stands at minus 32.5 points after minus 18.1 points in the previous month. This is still well below its historical average of 31.8 points. read more
In October, the results of the survey among financial market experts conducted by the ZEW, the Centre for European Economic Research, Mannheim, supported by Erste Bank der oesterreichischen Sparkassen, Vienna, indicate a resumed downward trend of economic expectations for the CEE region after interruption in the previous month. The Sentiment Indicator CEE drops 19.7 points and now stands at -11.4 points. The rating of the current economic situation in the CEE countries has improved, however. For Austria, the pessimistic expectations for economic development also prevail combined with a positive assessment of the current situation. read more
The latest survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse reveals that the assessment of the current economic situation in Switzerland has brightened up. The majority of 94 percent (up 11.6 percentage points) of the financial market experts believe that the Swiss economy is in good shape at present. At the same time, the ZEW CS-Indicator for economic expectations improves as well, rising by 10.7 points to the -16 mark. Hence, survey participants continue to expect economic momentum to diminish, albeit to a much less pronounced extent than in September. read more
The ZEW Indicator of Economic Sentiment for Germany remained unchanged in October 2007 and stands like in the previous month at minus 18.1 points. This is still well below its historical average of 32.1 points. read more
The financial market experts who take part in the monthly survey conducted by the ZEW, the Centre for European Economic Research, Mannheim, supported by Erste Bank der oesterreichischen Sparkassen, Vienna, predominantly indicate optimistic business cycle expectations for the countries of Central and Eastern Europe. The assessment of the economic situation has worsened slightly. In contrast, negative expectations now outweigh positive expectations markedly for Austria. The experts also assess the Austrian economic situation more pessimistic compared to last month's survey. read more
According to the latest survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, the assessment of the current economic situation in Switzerland remains at a high level, although the balance of the relevant indicator edged down by 4.1 points to the 80.6 mark. Economic expectations decreased much more noticeably, dropping by 21.6 points to the -26.7 level. The assessment of the outlook for the Swiss stock market diminished drastically as well, with the balance of the corresponding indicator plunging by 29.1 points below the previous month’s reading to hit 35.8. read more
According to a current survey of the ZEW-Financial Market Survey, financial market experts have increased their assessment of risk for the worldwide financial system. The Centre for European Economic Research (ZEW) in Mannheim (Germany) has surveyed 235 financial market experts to give their assessment of the impact of the subprime crisis on the stability of the international financial system. According to the survey, 66 percent of the polled experts see high to very high risks for the financial sector. Of those, 18 percent perceive risk to be very high, and 48 percent perceive risk to be high. However, the experts' assessment of risk stops short of predicting failures in the banking-sector on a large scale. Instead, 84 percent of the polled experts expect failures to occur only sporadically. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 11.2 points in September 2007 and now stands at minus 18.1 points after 6.9 points in August. This is well below its historical average of 32.4 points. read more
Within the next six months, the financial experts participating in the survey carried out by the ZEW, the Centre for European Economic Research, Mannheim, which is supported by Erste Bank der oesterreichischen Sparkassen, Vienna, expect no change of the economic development for the Central and Eastern European Countries. The survey participants assess the economic situation for this region as good. For Austria, negative economic expectations predominate, whereas the economic situation is assessed as positive on balance. read more
According to the latest survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, respondents' assessment of the economic situation continues to stand at a high level, although the perceptions diminished somewhat versus the previous month. The corresponding indicator declined in August from 93.6 to 84.7 points. The ZEW Credit Suisse indicator for expectations regarding the future economic outlook also dropped, edging down by 3 points to the -5.1 mark. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 17.3 points in August 2007 and now stands at minus 6.9 points after 10.4 points in July. This is well below its historical average of 32.6 points. read more
The financial experts who take part in the survey carried out by the ZEW, the Centre for European Economic Research, Mannheim, and Erste Bank der oesterreichischen Sparkassen, Vienna, do not expect a significant change in the economic development of the CEE countries in the next six months. The experts assess the current economic situation in the Central and Eastern European region as good. For Austria, the situation is also evaluated as good. However, the expectations of the experts concerning the economic development in the next six months have worsened by now. read more
The survey of financial market experts, carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, reveals that the participants continue to assess the current economic situation as very favourable. At 93.6 points, the corresponding indicator edged down just slightly below the previous month's level. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 9.9 points in July 2007 and now stands at 10.4 points after 20.3 points in June. This is still below its historical average of 32.8 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, the financial market experts surveyed the current situation of the Swiss economy as even more favourable than in the previous month. Regarding the economic outlook, the survey participants' view remained almost unchanged. The ZEW Credit Suisse indicator fell from a neutral level to -0.1 points. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 3.7 points in June 2007 and now stands at 20.3 points after having boasted 24 points in May. This is still below its historical average of 33.0 points. read more
The results of the latest ZEW Credit Suisse survey reveal a still very positive assessment of the economic situation in Switzerland. Although the corresponding indicator decreased by 3.9 points, the level of 89.3 points remains high. Regarding the economic outlook the survey participants are again more optimistic than in the previous month and the ZEW Credit Suisse indicator is up 35 points, thus leaving the reading at 0.0 points. Interest rate expectations remained unchanged compared to the April reading, and almost 90 percent of the participants anticipate a rise of short-term interest rates. In the latest survey, more experts anticipate the Swiss franc to strengthen versus the Euro. In terms of inflation expectations, the share of participants that expect an unchanged inflation rate increased above the 50 percent mark in May. read more
The ZEW Indicator of Economic Sentiment for Germany has continued its upward trend in May 2007. The indicator rose by 7.5 points and now stands at 24.0 points after 16.5 points in April. This is still below its historical average of 33.0 points. read more
The results of the latest monthly ZEW Credit Suisse survey reveal a slight increase of the very positive assessment of the economic situation in Switzerland. Regarding the economic outlook the survey participants tend to paint a more optimistic picture. read more
The recovery of the ZEW Indicator of Economic Sentiment for Germany gained momentum in April 2007. The indicator rose by 10.7 points and now stands at 16.5 points after 5.8 points in March. This is still far below its historical average of 33.1 points. read more
The results of the latest ZEW Credit Suisse survey reveal a very positive assessment of the economic situation in Switzerland from the previous month. However, regarding the economic outlook the survey participants tend to paint a somewhat more pessimistic picture. The ZEW Credit Suisse indicator falls to -28 points after it attained -17.3 points in February. read more
The dynamism of the recovery process traced by the ZEW Indicator of Economic Sentiment for Germany slackened off somewhat in March 2007. The indicator rose by 2.9 points and now stands at 5.8 points after 2.9 points in February. This is still far below its historical average of 33.2 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, the surveyed financial market experts continue to regard the current situation of the Swiss economy as very favourable and the corresponding indicator stays at an almost unchanged level of 90.4 points. read more
The ZEW Indicator of Economic Sentiment for Germany continued its recovery in February 2007. Compared with minus 3.6 points in January, the indicator’s current level of plus 2.9 points is still far below its historical average of 33.3 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse, the surveyed financial market experts continued to paint a very positive picture regarding the current situation of the Swiss economy. The ZEW Credit Suisse indicator for expectations regarding the economic outlook rose to -10.8 points. 12.3 percent of the survey participants expect further improvement of economic dynamics, while 23.1 percent expect the pace of growth to decrease. 47.7 percent of the survey participants - again less than in the previous month - expect the Swiss Franc to gain strength versus the Euro, while 10.8 percent expect further weakness in this regard. Following the renewed tightening of monetary policy by the SNB in December, 86.2 percent of the survey participants expect further tightening to come. Inflation expectations barely changed, the according indicator stands at 18.6 points. read more
The ZEW Indicator of Economic Sentiment for Germany continued its recovery in January 2007. Compared with minus 19 points in December, the indicator’s current level of minus 3.6 point is nevertheless still far below its historical average of 33.5 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS) in December, the assessment of the financial market experts regarding the current situation of the Swiss economy was slightly less favorable. The ZEW Credit Suisse indicator for expectations regarding the economic outlook fell to -23.7 points. 10.2 percent of the survey participants expect further improvement of economic dynamics, while 33.9 percent expect the pace of growth to decrease. A majority of survey participants expects the Swiss Franc to gain strength versus the Euro (52.5 percent), only 1.7 percent expect it to weaken further. Ahead of tomorrow's rate decision more than 86.4 percent of the survey participants expect higher short-term interest rates. Inflation expectations barely changed, the according indicator stands at 18.6 points. read more
The ZEW Indicator of Economic Sentiment for Germany recovered significantly by 9.5 points in December. Compared with minus 28.5 points in November, the indicator's current level of minus 19.0 points is nevertheless still far below its historical average of 33.7 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS) in November, the assessment of the financial market experts regarding the current situation of the Swiss economy was slightly less favorable after the indicator had reached the highest level since the survey was launched. The Credit Suisse ZEW indicator for expectations regarding the economic outlook fell again, to now -21.3 points. Still 11.5 percent of the survey participants expect further improvement of economic dynamics, while 32.8 percent expect the pace of growth to decrease. read more
The ZEW Indicator of Economic Sentiment for Germany dropped slightly by 1.1 points in November. Compared with minus 27.4 points in October, the indicator's current level of minus 28.5 points is still far below its historical average of 34.0 points. read more
In the survey carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse in October 2006, the assessment of the financial market experts regarding the current situation of the Swiss economy improved and even reached the highest level since the survey was launched. Contrary to this the indicator for expectations regarding the economic outlook fell to -14.1 points. A deterioration of economic momentum is expected by 24.6 percent (+7.4 percent) of survey participants, while only 10.5 percent (-8.5 percent) expect an improvement. Fewer survey participants expect inflationary pressure to rise, a majority expects further tightening by the Swiss National Bank. Only 7 percent expect a further depreciation of the Swiss Franc vs. the Euro. read more
The ZEW Indicator of Economic Sentiment for Germany dropped slightly by 5.2 points in October. Compared with minus 22.2 points in September, the indicator's current level of minus 27.4 points is now far below its historical average of 34.3 points. read more
The Financial Market Test Switzerland carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS) in September confirms the overall positive sentiment that has prevailed since the launch of the survey. The current situation is judged to be good by 86.2 percent - only slightly less than in the previous month (90.2 percent). The indicator regarding expectations for economic development falls to 1.8 points in the September survey (in August 16.3 points). Fewer participants than in the previous month expect short term and long term interest rates to rise. Respondents on average expect oil prices to decline further. Accordingly inflation expectations have declined significantly with now 41.4 percent anticipating inflation to rise further in Switzerland (down from 59.0 percent in the previous month). read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 16.6 points in September. Compared with minus 5.6 points in August, the indicator's current level of minus 22.2 points is now far below its historical average of 34.7 points. read more
The Financial Market Test Switzerland carried out by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS) in August confirms the overall positive sentiment that has prevailed since the survey was launched in June of this year. The financial market experts give an even more favourable assessment of the current economic situation in Switzerland than they did in July. The corresponding indicator now stands at 90.2 points. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 20.7 points in August. Compared with 15.1 points in July, the indicator's current level of -5.6 points is now far below its historical average of 35.0 points. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by 22.7 points in July. Compared with 37.8 points in June, the indicator's current level of 15.1 points is now far below its historical average of 35.2 points. read more
The Centre for European Economic Research (ZEW), in cooperation with Credit Suisse (CS), has for the second time carried out the Financial Market Test Switzerland. The results continue to show the optimistic view of the survey participants regarding the economic prospects in Switzerland for the second half of 2006. read more
The Centre for European Economic Research (ZEW) in Mannheim, in cooperation with Credit Suisse (CS), has for the first time carried out a financial market test, a survey among financial market experts, for Switzerland. The analysis shows that the economic forecasts of the participants appear very positive. The current economic situation is for the most part also considered good. The respondents expect an increase in the inflation rate as well as in short- and longer-term interest rates. The detailed results can be obtained from the "Switzerland Financial Market Report", which will be published on a monthly basis. read more
The ZEW Indicator of Economic Sentiment for Germany fell by -12.2 points in June. Compared with +50.0 points in May, the indicator's current level of +37.8 points is only slightly above its historical average of +35.3 points. read more
The <acronym title="Zentrum für Europäische Wirtschaftsforschung" xml:lang="de" lang="de">ZEW</acronym> Indicator of Economic Sentiment for Germany fell by -12.7 points in May. However, compared with +62.7 points in April, the indicator's current level of +50.0 points is still well above its historical average of +35.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany fell by -0.7 points in April. However, compared with +63.4 points in March, the indicator's current level of 62.7 points is still well above its historical average of 35.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany dropped by -6.4 points in March. Compared with +69.8 points in February, the indicator's current level of +63.4 points is far above its historical average of + 35.1 points. read more
The ZEW Indicator of Economic Sentiment for Germany dropped slightly by -1.2 points in February. Compared with +71.0 points in January, the indicator's current level of 69.8 points is far above its historical average of +34.9 points. read more
The ZEW Indicator of Economic Sentiment for Germany increases significantly by +9.4 points in January. Compared with +61.6 points in December, the indicator's current level of +71 points is far above its historical average of +34.7 points. read more
The ZEW Indicator of Economic Sentiment for Germany increases by a remarkable +22.9 points in December. Compared with +38.7 points in November, the indicator's current level of +61.6 points is far above its historical average of +34.5 points. read more
The ZEW Indicator of Economic Sentiment for Germany decreases slightly in November by -0.7 points. Compared with +39.4 points in October, the indicator's current level of +38.7 points is still above its historical average of +34.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany slightly increases in October. Standing at +39.4 points versus +38.6 points in September, the indicator remains above its historical average of +34.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany decreases by a substantial -11.4 points in September. Standing at +38.6 points versus +50.0 points in August, it is still above its historical average of +34.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany rises by a substantial +13.0 points in August. Standing at +50.0 points compared with +37.0 points in July, it is again clearly above its historical average of +34.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany rises in July by a substantial +17.5 points. At its current level of +37.0 points, compared with +19.5 points in June, the indicator again stands slightly above its historical average of +34.2 points. read more
The ZEW Indicator of Economic Sentiment for Germany rises by a substantial +5.6 points in June. Having reached +13.9 points in May, the indicator's current level of +19.5 points is still far below its historical average of +34.1 points. read more
The ZEW Indicator of Economic Sentiment for Germany fell again in May by a substantial -6.2 points. At its current level of +13.9 points, compared with +20.1 points in April, the indicator is now well below its historical average of +34.2. read more
The ZEW Indicator of Economic Sentiment for Germany decreased by a substantial -16.2 points in April. At its current level of +20.1 points compared with +36.3 points in March the indicator is now significantly below its historical average of +34.4 points. read more
The ZEW Indicator of Economic Sentiment for Germany improved slightly by +0.4 points in March. At its current level of +36.3 points compared with +35.9 points in February the indicator continues to lie approximately at its historical average of +34.5 points. read more
The ZEW Indicator of Economic Sentiment for Germany clearly increases by +9.0 points in February. It now stands at +35.9 points following +26.9 points in January. Thus, the indicator again stands approximately at its historical average of +34.4 points. read more
The ZEW Indicator of Economic Sentiment for Germany clearly increases by 12.5 points in January. It now stands at +26.9 points following +14.4 points in December. Despite this positive development, the indicator is still below its historical average of +34.4 points. read more
With an increase of about 5 percent to date, this year's Dax will not even remotely recapture the 30 percent surge in 2003. The financial market survey conducted by the Centre for European Economic Research (ZEW) in Mannheim, Germany, among 252 analysts and insitutional investors indicates that this may similarily hold for 2005. read more
The ZEW Indicator of Economic Sentiment for Germany marginally increases by +0.5 points in December. Following 13.9 points in November it now stands at 14.4 points. The indicator is thus still well below its historical average of 34.5 points. read more
The ZEW Indicator of Economic Sentiment for Germany shows a clear decrease of -17.4 points in November. Now standing at 13.9 points following 31.3 points in October, the indicator is now well below its historical average of 34.6 points. read more
The ZEW Indicator of Economic Sentiment for Germany decreases by 7.1 points in October. The indicator now stands at 31.3 points compared with +38.4 points in September. Hence, it lies below its historical average of +34.7 points. read more
The ZEW Indicator of Economic Sentiment for Germany decreased by 6.9 points in September. The indicator now stands at 38.4 points. Although this value represents a further decline compared to +45.3 points in August, expectations remain above their historical average of +34.8 points. Thus, experts expect a slight medium-term recovery of the economy. read more
The ZEW Indicator of Economic Sentiment for Germany decreases in August by 3.1 points. The indicator now stands at +45.3 points, compared with +48.4 points in July. In spite of the decline, experts expect a moderate recovery for Germany's economy until the beginning of next year. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly in July. The indicator now stands at +48.4 points, compared with +47.4 points in June. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly in June. The indicator now stands at +47.4 points, compared with +46.4 points in May. read more
The ZEW Indicator of Economic Sentiment for Germany continues to drop slightly in May. The indicator now stands at +46.4 points compared with +49.7 points in April. read more
The ZEW Indicator of Economic Sentiment for Germany continued to drop significantly in April. The indicator now stands at +49.7 points compared with +57.6 points in March. read more
The ZEW Indicator of Economic Sentiment for Germany dropped significantly in March. The indicator now stands at +57.6 points compared with +69.9 points in February. read more
The ZEW Indicator of Economic Sentiment for Germany decreases slightly in February. The indicator now stands at +69.9 points compared with +72.9 points in January. read more
The ZEW Indicator of Economic Sentiment for Germany stabilised at a high level in January. The indicator now stands at +72.9 points compared with +73.4 points in last year's December. read more
The ZEW Indicator of Economic Sentiment for Germany increased considerably in December. The indicator now stands at +73.4 points compared with +67.2 points in November. read more
The ZEW Indicator of Economic Sentiment for Germany has increased again in November after having consolidated in the previous month. The indicator now stands at +67.2 points compared with +60.3 points in October. read more
The ZEW Indicator of Economic Sentiment for Germany fell slightly in October. The indicator now stands at +60.3 points compared with +60.9 points in September. The indicator thus suggests that optimism continues, but uncertainty concerning the economic upswing has not vanished completely. read more
The ZEW Indicator of Economic Sentiment for Germany continued to rise considerably in September. The indicator now stands at +60.9 points in comparison to +52.5 points in August. The analysts thus confirm the expected economic rebound in Germany for the beginning of next year. read more
The ZEW Indicator of Economic Sentiment for Germany continued to increase considerably in August. The indicator now stands at +52.5 points as compared to +41.9 points in July. read more
The ZEW Indicator of Economic Sentiment for Germany increased considerably in July. The indicator gained +20.6 points versus the previous month and now stands at +41.9 points. It is now well above its historical mean of 33 points and signals an economic upswing for the beginning of the next year. read more
The ZEW Indicator of Economic Sentiment for Germany increased for the sixth month in a row in June. Compared with the previous month's result the indicator gained +2.6 points and now stands at +21.3 points. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly by +0.3 points in May and now stands at +18.7 points versus +18.4 points in the previous month. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly by +0.7 points compared with the previous month's result and now stands at +18.4 points versus +17.7 points in March. However, separate analyses of the responses over the survey period reveal a strong influence of the Iraq war. read more
The ZEW Indicator of Economic Sentiment for Germany increased to +17.7 points in March. This corresponds to a rise of +2.7 points compared with the previous month. The indicator thus signals cautious optimism for the second half of 2003. read more
The ZEW Indicator of Economic Sentiment for Germany increased slightly by 1.0 points in February. It now stands at +15.0 points compared to +14.0 points in the previous month. Growth in Germany can thus be expected to remain slow in the second half of the year. "The situation remains unstable, we are shifting between hope and fear," says ZEW president Prof. Dr. Wolfgang Franz. read more
The ZEW Indicator of Economic Sentiment for Germany increases in January for the first time in seven months. It now stands at +14.0 points, which corresponds to a rise of 13.4 points compared with the previous month's result. read more
The downward trend of the ZEW Indicator of Economic Sentiment for Germany has lost momentum in December. The indicator now stands at 0.6 points. read more
The ZEW Indicator of Economic Sentiment for Germany deteriorates strongly by 19.2 points in November. It now stands at 4.2 points compared with 23.4 points in the previous month and is thus lower than in October 2001. read more
The ZEW Indicator of Economic Sentiment for Germany declines significantly in October. It is now standing at 23.4 points which corresponds to a decrease of 16.1 points compared with the previous month. read more
In September the ZEW Indicator of Economic Sentiment for Germany is declining for the third consecutive month. It is now standing at 39.5 points which corresponds to a decrease of 3.9 points compared with the previous month's result. read more
The ZEW Indicator of Economic Sentiment for Germany falls by 25.7 points in August. It is now standing at 43.4 points compared with 69.1 points in the previous month. This is the largest decrease in two years. read more
The economic expectations of German analysts have so far been unaffected by the latest stock market decline. The ZEW Indicator of Economic Sentiment for Germany decreased by a slight 0.5 points in July compared with the previous month's result. read more
The ZEW Indicator of Economic Sentiment for Germany increases in June after having declined in May. Compared with the previous month's result the indicator gains +3,3 points and is now standing at +69,6 points. read more
The ZEW Indicator of Economic Sentiment for Germany declines in May. With +66.3 points the index now stands -4.3 points below the value of the previous month (+70.6 points). read more
The ZEW Indicator of Economic Sentiment has slightly declined by -0.6 points in April. The index now stands at +70.6 points after standing at +71.2 in the previous month. read more
The ZEW Indicator of Economic Sentiment again rises sharply. The index now stands at +71.2 points, which is equivalent to an increase of +21.0. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey rises to +50.2 points in February. This corresponds to an increase of +14.3 compared with the January result. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey rises to +35.9 points in January. This corresponds to an increase of 10.1 points compared with the December result. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey has gained 12.7 points in December and is now standing at +25.8. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey has increased in November and further continues to stabilize in positive territory. It is currently standing at +13.1 points compared to +9.8 points in the October survey. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey shows signs of stabilization in the positive range. It is currently standing at +9.8 points compared to +13.7 points in the September survey. However, it has increased slightly (+1.8 points) in comparison with the share of last month's results that were given after September 11th. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey again increased in September. It is now standing at +13.7 points which represents an increase of 2.3 points compared to August 2001. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey has increased considerably in August. It is now standing at +11.4 points. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey has increased again in July. It currently lies at minus 1.9 points. This corresponds to an increase by 6.2 points within a month. read more
The ZEW Indicator of Economic Sentiment derived from the ZEW Financial Market Survey has decreased again in June after it had increased in April and May. It currently lies at minus 8.1 points. read more
Next year investors should buy primarily European shares: In a model portfolio with shares from Europe, North America, Japan, and the Emerging Markets European values should account for 50 percent of the volume. Investors should invest 28 percent of their portfolio volume in US shares, twelve percent in Japanese securities, and 10 percent in shares of the Emerging Markets. read more