The ZEW Economic Expectations for Germany saw a slight improvement in the September 2026 survey. According to the Center for European Economic Research (ZEW), reported in Mannheim on Tuesday, the indicator increased by 0.5 points to 34.7 compared to the previous month. Concurrently, the assessment of the current economic situation recorded a sharp rise: the situation indicator for Germany is now at -47.1 points, an increase of 14.0 points over last month.
ZEW President Achim Wambach commented on the latest results, stating that “ZEW Economic Expectations remain stable.” He expressed cautious optimism regarding the economic recovery, noting that it continues to be driven by fiscal policy and supported by additional export impetus. However, Wambach warned that significant risks remain, adding that “expensive energy due to the ongoing Iran war and additional uncertainty from hybrid attacks are straining the economy.”
Across individual industries, the outlook remains mixed in September, although generally stable. The insurance sector benefits from rising interest rates, with its balance increasing by 12.1 points to 46.4. In contrast, the steel and metal production sectors, along with the automotive industry, continue to operate in negative territory, scoring -16.7 and -22.6 points respectively. Notably, the banking industry showed improvement, with its balance standing at 52.9 points, 8.2 points higher than in August.
Conversely, expectations for the Eurozone declined in September. The index saw a 5.6-point drop to a balance of +25.8 points compared to the previous month. The assessment of the situation, however, improved by 7.6 points, reaching -13.9 points.
