Eurozone ZEW Economic Sentiment

The Eurozone ZEW Economic Sentiment index fell to 25.8 points in September 2026 from 31.4 points in August, a decline of 5.6 points, according to figures released by ZEW (Leibniz Centre for European Economic Research) on September 15, 2026. The index remains in positive territory but has now declined for two consecutive months.

ZEW President Professor Achim Wambach noted that sentiment is broadly stable and that experts hold a "cautiously optimistic" view on economic recovery. Growth continues to be supported by fiscal measures and export momentum, while persistently high energy prices tied to the ongoing conflict in Iran and uncertainty stemming from hybrid attacks were cited as notable downside risks.

Among survey respondents, 54.8% expected no change in economic activity and 35.5% anticipated an improvement. The Eurozone current situation index rose by 7.6 points to minus 13.9, and inflation expectations climbed 28.7 points to 31.1. At the sector level, the insurance industry was a notable outperformer, gaining 12.1 points to reach 46.4, buoyed by the higher interest rate environment.

The ZEW Indicator of Economic Sentiment for the Eurozone rose to 31.4 points in August 2026, up 8.0 points from 23.4 in July, according to data released by the Centre for European Economic Research (ZEW) on August 18. The reading marks a third consecutive monthly improvement, remaining in positive territory.

ZEW President Achim Wambach noted that the positive trend in expectations continued in August, attributing the gain to strong corporate earnings results and a recent high in export activity. The assessment of the current economic situation also improved markedly, climbing 16.2 points to minus 21.5 points, though it remains in negative territory.

The improvement in expectations was broad-based across all sectors, with the automotive industry posting the largest gain of 22.2 points. The chemical and pharmaceutical industries, mechanical engineering, and metal production also recorded substantial increases. ZEW flagged that record-low water levels on the Rhine River represent a near-term additional downside risk to the economic outlook.

The ZEW Economic Sentiment Index for the Eurozone rose to 23.4 points in July 2026, up 13.9 points from 9.5 points in June, according to data released by the ZEW Centre for European Economic Research on July 21. The reading came in well above market expectations of 11.2 points, signaling a significant improvement in financial experts' six-month economic outlook for the euro area.

ZEW President Achim Wambach noted that the economic outlook continued to improve in July, pointing to signs that structural reforms are beginning to take effect. Both export-oriented industries and domestic demand were cited as areas showing sustained growth.

At the sector level, mechanical engineering, construction, and domestic demand-related industries led the improvement, while the automotive sector remained a notable laggard. The Current Situation Index, though still in negative territory, improved by 5.7 points to minus 37.7 points.

The ZEW Indicator of Economic Sentiment for the euro area climbed to 9.5 in June 2026, an 18.6-point jump from the previous month that returned the expectations gauge to positive territory. The Mannheim-based ZEW institute said the improvement was underpinned by hopes for a resolution of the Middle East conflict, which would ease pressure on energy prices and inflation.

In the survey, 57.7% of analysts expected no change in economic activity, while 25.9% anticipated an improvement and 16.4% a deterioration. The assessment of the current situation weakened, with that index falling 2.0 points to -43.4, and the gauge of inflation expectations dropped 19.5 points to 45.8.