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ZEW Survey – Economic Sentiment

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

Most recent - Tuesday 16 May 2023 09:00

Previous
4.1
Forecast
-5.5
Actual
-10.7

Lower numbers than forecast tend to be bullish for xxx/EUR pairs and bearish for EUR/xxx pairs.

Next event - Tuesday 13 June 2023 09:00

Previous
-10.7
Forecast
-3.3
Actual
-

The typical/expected impact on EUR pairs is medium.

The consensus forecast for ZEW Survey – Economic Sentiment is -3.3. A higher value than forecast tends to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Trading range

Forecast history

The most recent announced value for ZEW Survey – Economic Sentiment was -10.7 against a forecast of -5.5.

Past events

Date
Forecast
Actual
Tuesday 16 May 2023 09:00
-5.5
-10.7
Tuesday 18 April 2023 09:00
15.1
4.1
Tuesday 21 March 2023 10:00
16.4
13
Tuesday 21 February 2023 10:00
22
28.1
Tuesday 17 January 2023 10:00
-15.5
16.9
Tuesday 13 December 2022 10:00
-26.4
-23.3
Tuesday 15 November 2022 10:00
-50
-36.7
Tuesday 18 October 2022 09:00
-65.7
-59.2
Tuesday 13 September 2022 09:00
-60
-61.9
Tuesday 16 August 2022 09:00
-53.8
-55.3
Tuesday 12 July 2022 09:00
-38.3
-53.8
Tuesday 14 June 2022 09:00
-27.5
-28
Tuesday 10 May 2022 09:00
-42
-34.3
Tuesday 12 April 2022 09:00
-48
-41
Tuesday 15 March 2022 10:00
10
-39.3
Tuesday 15 February 2022 10:00
55
54.3
Tuesday 18 January 2022 10:00
32.7
51.7
Tuesday 7 December 2021 10:00
25.1
29.9
Tuesday 9 November 2021 10:00
19
31.7
Tuesday 12 October 2021 09:00
24
22.3
Tuesday 7 September 2021 09:00
30
26.5
Tuesday 10 August 2021 09:00
56.7
40.4
Tuesday 6 July 2021 09:00
75.2
63.3
Tuesday 8 June 2021 09:00
86
79.8
Tuesday 11 May 2021 09:00
72
84.4
Tuesday 13 April 2021 09:00
79
70.7
Tuesday 16 March 2021 10:00
74
76.6
Tuesday 16 February 2021 10:00
59.5
71.2
Tuesday 19 January 2021 10:00
60
61.8
Tuesday 8 December 2020 10:00
46
55
Tuesday 10 November 2020 10:00
41.7
39
Tuesday 13 October 2020 09:00
73
56.1
Tuesday 15 September 2020 09:00
69.8
77.4
Tuesday 11 August 2020 09:00
58
71.5
Tuesday 14 July 2020 09:00
60
59.3
Tuesday 16 June 2020 09:00
60
63.4

Economic context

Recent economic data has been broadly neutral for EUR. Other recent announcements which may affect the market's interpretation of the next ZEW Survey – Economic Sentiment result:

PreviousLatest
Core Harmonized Index of Consumer Prices (MoM)Bearish change1%0.2%
Core Harmonized Index of Consumer Prices (YoY)Bearish change5.6%5.3%
Harmonized Index of Consumer Prices (MoM)Bearish change0.6%0%
Harmonized Index of Consumer Prices (YoY)Bearish change7%6.1%
Unemployment RateBullish change6.6%6.5%
30-y Bond AuctionBullish change3.81%3.98%
UnemploymentBullish change7.9%7.8%
HCOB Manufacturing PMIBullish change42.943.2
HCOB Manufacturing PMIBearish change46.845.9
HCOB Manufacturing PMIBearish change4948.4
Retail Sales (MoM)Bullish change-2.4%0.8%
Retail Sales (YoY)Bullish change-8.6%-4.3%
Harmonized Index of Consumer Prices (YoY)Bearish change7.6%6.3%
Gross Domestic Product (QoQ)Bullish change0.5%0.6%
Gross Domestic Product (YoY)Bullish change1.8%1.9%
Unemployment ChangeBullish change24K9K
Unemployment Rate s.a.(no change)5.6%5.6%
Business ClimateBearish change0.510.19
Consumer Confidence(no change)-17.4-17.4
Gfk Consumer Confidence SurveyBullish change-25.8-24.2
Gross Domestic Product (QoQ)Bearish change0%-0.3%
Gross Domestic Product (YoY)Bearish change-0.1%-0.5%
Gross Domestic Product w.d.a (YoY)Bearish change0.2%-0.2%
IFO – Business ClimateBearish change93.491.7
IFO – Current AssessmentBearish change95.194.8
IFO – ExpectationsBearish change91.788.6
HCOB Composite PMIBearish change54.153.3
HCOB Manufacturing PMIBearish change45.844.6
HCOB Services PMIBearish change56.255.9
HCOB Composite PMIBullish change54.254.3
HCOB Manufacturing PMIBearish change44.542.9
HCOB Services PMIBullish change5657.8
HCOB Composite PMIBearish change52.451.4
HCOB Manufacturing PMIBullish change45.646.1
Consumer ConfidenceBullish change-17.5-17.4

About ZEW Survey – Economic Sentiment

Country:Germany
Currency:EUR
Source:ZEW - Leibniz Centre for European Economic Research
Category:Economic Activity
Frequency:Monthly

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