Germany ZEW economic sentiment, DIW barometer and economic policy uncertainty
The monthly composite indicators German forecasters read first, and the uncertainty that moves them.
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ZEW Indicator of Economic Sentiment2 | ||||||||||||||||||||||||||||||||||||||
| ZEW Indicator of Economic Sentiment | 34.2 | 26.3 | 10.5 | -10.2 | -17.2 | -0.5 | 58.3 | 59.6 | 45.8 | 38.5 | 39.3 | 37.3 | 34.7 | 52.7 | 47.5 | 25.2 | -14 | 51.6 | 26 | 10.3 | 15.7 | 7.4 | 13.1 | 3.6 | 19.2 | 41.8 | 47.5 | 47.1 | 42.9 | 31.7 | 19.9 | 15.2 | 12.8 | 9.8 | -1.1 | -11.4 | -12.3 | |
| Assessment of the current economic situation | -61.1 | -77.6 | -81 | -77.8 | -73.7 | -62.9 | -65.9 | -72.7 | -81 | -78.7 | -80 | -76.4 | -68.6 | -59.5 | -72 | -82 | -81.2 | -87.6 | -88.5 | -90.4 | -93.1 | -91.4 | -86.9 | -84.5 | -77.3 | -68.9 | -73.8 | -72.3 | -79.2 | -80.5 | -81.7 | -77.3 | -77.1 | -79.8 | -79.9 | -79.4 | -71.3 | |
| DIW economic barometer1 | ||||||||||||||||||||||||||||||||||||||
| Economic Barometer index1 | 96.4 | 91.3 | 96.1 | 94.8 | 97.9 | 97.3 | 101.6 | 94.8 | 93.4 | 92.9 | 91.1 | 96.3 | 92 | 92.3 | 94.2 | 90.2 | 82.9 | 90.6 | 90.4 | 87.7 | 86.4 | 83.7 | 85.4 | 85.3 | 83.4 | 87 | 92.5 | 86.1 | 92.9 | 88 | 83.2 | 91.2 | 87.6 | 85.3 | 88.1 | 89.1 | 90.3 | |
| Total contribution to economic momentum4 | -1.8 | -4.3 | -2 | -2.6 | -1 | -1.3 | 0.8 | -2.6 | -3.3 | -3.6 | -4.5 | -1.9 | -4 | -3.9 | -2.9 | -4.9 | -8.5 | -4.7 | -4.8 | -6.2 | -6.8 | -8.2 | -7.3 | -7.4 | -8.3 | -6.5 | -3.7 | -7 | -3.6 | -6 | -8.4 | -4.4 | -6.2 | -7.4 | -6 | -5.5 | -4.9 | |
| Industry contribution | -1.3 | -3 | -1.4 | -1.8 | -0.7 | -0.9 | 0.6 | -1.8 | -2.3 | -2.5 | -3.1 | -1.3 | -2.8 | -2.7 | -2 | -3.4 | -5.9 | -3.2 | -3.3 | -4.2 | -4.7 | -5.6 | -5 | -5.1 | -5.7 | -4.5 | -2.6 | -4.7 | -2.5 | -4.2 | -5.8 | -3.1 | -4.4 | -5.2 | -4.2 | -3.8 | -3.4 | |
| Services contribution | -0.3 | -0.7 | -0.3 | -0.4 | -0.2 | -0.2 | 0.1 | -0.4 | -0.5 | -0.6 | -0.7 | -0.3 | -0.7 | -0.6 | -0.5 | -0.8 | -1.4 | -0.8 | -0.8 | -1 | -1.1 | -1.4 | -1.2 | -1.2 | -1.4 | -1.1 | -0.6 | -1.2 | -0.6 | -1 | -1.4 | -0.7 | -1 | -1.2 | -1 | -0.9 | -0.8 | |
| Labour-market contribution | -0.2 | -0.5 | -0.2 | -0.3 | -0.1 | -0.2 | 0.1 | -0.3 | -0.4 | -0.4 | -0.6 | -0.2 | -0.5 | -0.5 | -0.4 | -0.6 | -1.1 | -0.6 | -0.6 | -0.8 | -0.8 | -1 | -0.9 | -0.9 | -1 | -0.8 | -0.5 | -0.9 | -0.4 | -0.7 | -1 | -0.5 | -0.7 | -0.8 | -0.7 | -0.6 | -0.5 | |
| Financial-market contribution | 0 | -0.1 | 0 | 0 | 0 | 0 | 0 | -0.1 | -0.1 | -0.1 | -0.1 | 0 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | -0.2 | -0.2 | -0.2 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | -0.1 | -0.1 | -0.2 | -0.1 | -0.1 | -0.1 | |
| Economic policy uncertainty1 | ||||||||||||||||||||||||||||||||||||||
| Germany EPU index | 720.55 | 940.25 | 901.63 | 1,067.49 | 1,213.87 | 859.85 | 942.67 | 736.14 | 848.51 | 979.02 | 967.03 | 990.5 | 1,371.9 | 929.55 | 1,203.98 | 1,502.18 | 1,083.1 | 838.87 | 1,009.06 | 984.37 | 1,095.93 | 871.02 | 699.77 | 554.44 | 849.16 | 667.67 | 637.04 | 640.37 | 550.27 | 596.12 | 729.9 | 672.52 | 626.14 | 669.57 | 737.68 | 661.26 | ||
| Geopolitical hybrid threats1 | ||||||||||||||||||||||||||||||||||||||
| Geopolitical Hybrid Threats index | 129.82 | 139.68 | 156.62 | 181.49 | 199.56 | 143.72 | 189.13 | 155.8 | 140.55 | 147.19 | 155.34 | 130.73 | 150.68 | 188.54 | 144.86 | 160.76 | 189.66 | 142.7 | 175.28 | 214.14 | 159.19 | 155.83 | 146.57 | 160.84 | 142.19 | 122.18 | 140.45 | 154.03 | 137.64 | 136.93 | 144.23 | 135.7 | 123.19 | 144.04 | 126.66 | 138.5 |
Latest reading
ZEW Indicator of Economic Sentiment stood at 34.2 in Aug 2026. That is +7.9 from Jul 2026 and −0.5 from a year earlier. The series on this page is monthly and runs from Dec 1991 to Aug 2026.
- Latest
- 34.2
- Aug 2026
- vs previous period
- +7.9
- Jul 2026
- vs a year earlier
- −0.5
About this data
The monthly composite indicators German forecasters read first, and the uncertainty that moves them. The ZEW indicator is the balance of financial analysts' six-month expectations together with their assessment of the current situation; the DIW barometer estimates current-quarter GDP growth and decomposes it into contributions from industry, services, the labour market and financial markets. Next to them are two newspaper-based uncertainty indices: the Baker, Bloom and Davis economic policy uncertainty index for Germany and the Bundesbank index of geopolitical hybrid threats, which are read as relative levels, not as quantities.
