ZEW Survey – Euro Zone

A German Firm, the Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about Germany ‘s economic situation. They ask experts to evaluate the current situation and to predict the future direction of the economy. For all components of the survey, responses are restricted to positive, negative, or unchanged. This simple structure allows the survey to be quick and efficient in terms of turnaround time, as well as easy to understand and interpret.

German ZEW Indicator of Economic Sentiment Experts are asked for a qualitative assessment of the direction of inflation, interest rates, exchange rates and the stock market in the next six months. Thus the indicator provides a medium-term forecast for the German economy.

German ZEW Current Situation (Economic Situation) Unlike the Economic Sentiment Indicator which looks into the future direction of the economy, the Current Situation Indicator focuses on the results of the survey that relate to the current health of the German economy. Expert opinions on whether the current situation is improved, worsened, or unchanged are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a stronger economy and better business climate.

Euro-Zone ZEW Indicator of Economic Sentiment Assesses future economic expectations for the whole Euro-zone. The results are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a positive expectation for Euro-zone economy.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

Relevance: Tends to move markets on release Release Schedule : 9:00 (GMT); monthly, in the first half of the same month. Source of Report : Center for European Economic Research Web Address : http://www.zew.de/en/ Address of Release : http://www.zew.de/en/publikationen/Konjunkturerwartungen/Konjunkturerwartungen.php3 Download historical time series for access to both figures

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