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ZEW Indicator of Economic Sentiment

A Leading Indicator for the German Economy.

The ZEW Indicator of Economic Sentiment is ascertained monthly. Up to 350 financial experts take part in the survey. The indicator reflects the difference between the share of analysts that are optimistic and the share of analysts that are pessimistic for the expected economic development in Germany in six months. The survey also asks for the expectations for the Euro-zone, Japan, Great Britain and the U.S.A..

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Detailed results of the latest suvey

Release dates 2010 (as PDF file, 17 KB)

Studies on the ZEW Indicator of Economic Sentiment and on other indicators for the German economy

  • A recent ZEW study analyzed the forecasting qualities of the ZEW Indicator and the ifo business expectations (West Germany). Download a summary of the results. The comment of the ifo institute can be found in the ifo-Schnelldienst 10/2001 (G. Goldrian: "Anmerkungen zu einer Untersuchung des prognostischen Gehalts von ifo Geschäfts- und ZEW-Konjunkturerwartungen", p.33).
  • Download The ZEW Indicators of Economic Sentiment for Germany and Europe show a significant one-month lead in comparison to the sentix-Economic Indices for Europe.
  • An overview of scientific papers based on the financial market survey data can be downloaded here .

Download the historical time series in EXCEL-Format. It is also available via Thomson Financial Datastream and Bloomberg.

Calculation of the ZEW Indicator of Economic Sentiment

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