Loading page content
Data from ZEW / IFO / GfK. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany ZEW Current Conditions climbed to -35.9 in October 2026
ZEW / IFO / GfKMonthlyReleased October 2026
Germany ZEW Current Conditions climbed to -35.9 in October 2026, up 11.2 from September's -47.1 reading. The print exceeded the -45 consensus by 9.1. ZEW Current Conditions has now risen for 5 consecutive months. Over the past 3 months, ZEW Current Conditions averaged -54.1, vs -78.8 in the prior 3-month window. ZEW Current Conditions is now the highest in 36 months.
Latest Release
-35.9
Actual
-45
Consensus
-47.1
Previous
Median Absolute Error
±2.57
across last 12 releases
Last Call
Oct 2026
Predicted: -41.63
Actual: -35.9
Error: -5.73
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
THE RELEASE
ZEW Current Conditions (Germany) was reported at -35.90 in October 2026. This beat the market consensus of -45.00 by 9.10. The reading rose from the previous value of -47.10. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged -67.43, ranging from -81.00 to -35.90 across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -48.03, up from the prior three at -78.80. Volatility over the past year (σ 14.16) is higher than the prior year (σ 9.84). In October readings over the past 3 years, ZEW Current Conditions has averaged -67.60.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with FTSE 100 (Bearish FTSE 100). Over the last 12 releases, the Sigmacast model's median absolute error is 2.58.
WHAT TO WATCH NEXT
The next release is scheduled for November 17, 2026. Same-country events in the next 14 days include Inflation Rate YoY (Oct 30) and Inflation Rate MoM (Oct 30).
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
SHARE
ZEW Current Conditions - DE
Loading chart data...
About ZEW Current Conditions — Germany
DEFINITION
ZEW Current Conditions is a widely recognized financial indicator that measures the current economic situation in Germany. It is based on a monthly survey of financial experts and provides valuable insights into the country's economic performance. This indicator is closely monitored by investors, policymakers, and businesses as it can help inform decisions and strategies related to the German economy. With its timely and reliable data, ZEW Current Conditions is a crucial tool for understanding the current state of the German economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2026): actual -35.9, consensus -45. Prior reading (Sep 2026): -47.1. Before that (Aug 2026): -61.1.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with FTSE 100 (Bearish FTSE 100, r=-0.45) — a useful reference for index-focused traders.
Σ
EXPECTED ZONE
SIGMANOMICS MARKET FORECAST ENGINE
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
FOREXCRYPTOSTOCKSCOMMODITIESINDICESAPI
BLSBEAFMPWORLD BANKFRED
1,456+ instruments247 indicators530+ correlationsREST + GQL API
4,151 economic indicators127 countries covered6 data sources
FREDBLSEIAECBBOJFMP
Economic Calendar - DE Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | DE | Import Prices MoM | 2.1 | 1 | 1.8 | 1.95 | Low |
| 07:00 | DE | Import Prices YoY | 10.4 | 8.3 | 10.3 | 10.35 | Low |
| 08:55 | DE | Unemployment Rate | 6.4 | 6.4 | 6.4 | 6.43 | High |
| 08:55 | DE | Unemployed Persons | 3.016 | 3.012 | 3.017 | 3.02 | Medium |
| 08:55 | DE | Employment Change | 4 | 12 | 5 | 5.00 | High |
| 09:00 | DE | GDP Growth Rate QoQ | 0.2 | 0.3 | 0.1 | 0.15 | High |
| 09:00 | DE | GDP Growth Rate YoY | 1.2 | 1 | 1.1 | 1.15 | High |