ZEW Indicator of Economic Sentiment


Based on the ZEW Financial Market Test, up to 300 experts from banks, insurance companies and financial departments of selected corporations have been interviewed about their assessments and forecasts for important international financial market data every month since 1991. Participants are asked about their six-months expectations concerning the economy, inflation rates, interest rates, stock markets and exchange rates in the Eurozone, Germany, Japan, United States, United Kingdom, France and Italy as well as their expectations concerning the oil price. One indicator is created and published from the results of the ZEW Financial Market Survey: The ZEW Indicator of Economic Sentiment is a leading indicator for the German economy similar to the ifo Index.

The results are published and analyzed in the monthly publication Financial Market Report (only available in German). In addition, the survey findings are published in regular intervals via the press in the form of indicators and forecasts. The information service Reuters also publishes the aggregative survey results.

ZEW Index

Additional information

Current press releases for the ZEW indicator

Detailed results of the latest survey

Historical time series


  • Konjunkturaussichten werden deutlich schlechter
  • Eurozone: Konjunkturerwartungen verschlechtern sich
  • USA: Pessimistische Einschätzung der konjunkturellen Lage
  • China: Erwartungen gehen zurück
  • Euroraum-Inflationserwartungen stabilisieren sich auf hohem Niveau
Keywords Konjunktur // Finanzmarkt // USA // China // Euroraum // Inflation
Authors Michael Schröder // Elisabeth Jeßberger // Freya Rauls // Frank Brückbauer