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GERMAN DATA: ZEW Headline Expectations Index Rises to 3-Month High

GERMAN DATA
Data BulletEurozoneGermanyCEEMEABulletMarketsFixed Income BulletsForeign Exchange Bullets

The German ZEW expectations index rose to 15.7 in December, up from 7.4 in November and above consensus of 6.9. That is the highest value since August. The current assessment index meanwhile decreased further, to -93.1 (vs -92.6 cons; -91.4 Nov).

  • This comes as wider German sentiment remains bleak (today's IFO release saw the lowest value since May 2020). The ZEW's expectations / current assessment split is at odds with that IFO print however (which saw stronger current assessment / weaker expectations).
  • The ZEW index is based on a survey of "experts from banks, insurance companies and financial departments of selected corporations [which] have been interviewed about their assessments and forecasts for important international financial market data" - so the index can exhibit elevated levels of correlation with German stock indices as the DAX.
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The German ZEW expectations index rose to 15.7 in December, up from 7.4 in November and above consensus of 6.9. That is the highest value since August. The current assessment index meanwhile decreased further, to -93.1 (vs -92.6 cons; -91.4 Nov).

  • This comes as wider German sentiment remains bleak (today's IFO release saw the lowest value since May 2020). The ZEW's expectations / current assessment split is at odds with that IFO print however (which saw stronger current assessment / weaker expectations).
  • The ZEW index is based on a survey of "experts from banks, insurance companies and financial departments of selected corporations [which] have been interviewed about their assessments and forecasts for important international financial market data" - so the index can exhibit elevated levels of correlation with German stock indices as the DAX.