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Data from ZEW / IFO / GfK. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany ZEW Current Conditions climbed to -61.1 in August 2026
ZEW / IFO / GfKMonthlyReleased August 2026
Germany ZEW Current Conditions climbed to -61.1 in August 2026, up 16.5 from July's -77.6 reading. The print exceeded the -69.5 consensus by 8.4. ZEW Current Conditions has now risen for 3 consecutive months. Over the past 3 months, ZEW Current Conditions averaged -79.3, vs -71.47 in the prior 3-month window. ZEW Current Conditions is now the highest in 12 months.
Latest Release
-61.1
Actual
-69.5
Consensus
-77.6
Previous
Median Absolute Error
±2.21
across last 12 releases
Last Call
Aug 2026
Predicted: -70.2
Actual: -61.1
Error: -9.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| FTSE 100 | ▼ Inverse | −0.33 | INDEX | Moves against | → View |
| EUR/JPY | ▲ Direct | +0.28 | FOREX | Moves with | → View |
| EUR/USD | ▲ Direct | +0.26 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
ZEW Current Conditions (Germany) was reported at -61.10 in August 2026. This beat the market consensus of -69.50 by 8.40. The reading rose from the previous value of -77.60. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged -74.10, ranging from -81.00 to -61.10 across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -73.23, down from the prior three at -68.87. Volatility over the past year (σ 7.05) is lower than the prior year (σ 9.88). In August readings over the past 3 years, ZEW Current Conditions has averaged -69.00.
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 2.21.
WHAT TO WATCH NEXT
The next release is scheduled for September 15, 2026. Same-country events in the next 14 days include Wholesale Prices MoM (Sep 15) and Wholesale Prices YoY (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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ZEW Current Conditions - DE
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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 (Aug 2026): actual -61.1, consensus -69.5. Prior reading (Jul 2026): -77.6. Before that (Jun 2026): -81.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a 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.
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EXPECTED ZONE
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Economic Calendar - DE Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | DE | Wholesale Prices MoM | 0.2 | 0.1 | -0.60 | Medium | |
| 06:00 | DE | Wholesale Prices YoY | 5.3 | 6.2 | 5.35 | Medium | |
| 09:00 | DE | ZEW Economic Sentiment Index | 34.2 | 37 | 45.25 | High | |
| 09:00 | DE | ZEW Current Conditions | -61.1 | -52.2 | -53.70 | Low | |
| 09:00 | DE | Economic Sentiment | 34.2 | 42.7 | 50.85 | Medium | |