---
source: Centre for European Economic Research (ZEW)
url: https://www.zew.de/en/press/latest-press-releases/zew-index-continues-to-deteriorate
document_type: html
date_retrieved: 2026-04-21
period: April 2026
parent_publication: ZEW Indicator of Economic Sentiment
indicators_covered: [ZEW Current Conditions, ZEW Economic Sentiment Index]
---

# ZEW Indicator of Economic Sentiment — April 2026

**Release Date:** 21 April 2026

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## Overview

The ZEW Indicator of Economic Sentiment for Germany continues to deteriorate in April 2026, falling to **minus 17.2 points**, which is 16.7 points below the previous month's reading.

The assessment of the current economic situation also declines, with the situation indicator hitting **minus 73.7 points**, 10.8 points below the March reading.

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## Key Indicator Values

| Indicator | April 2026 | March 2026 | Change |
|-----------|------------|------------|--------|
| Economic Sentiment Index | -17.2 | -0.5 | -16.7 |
| Current Conditions Index | -73.7 | -62.9 | -10.8 |

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## Executive Commentary

> "Economic expectations are slipping into negative territory. The economic consequences of the Iran war for the German economy go far beyond price increases: Businesses are concerned about long-term shortages of energy supply, and this discourages investment and weakens the effect of government stimuli."
>
> — Professor Achim Wambach, PhD, ZEW President

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## Sectoral Breakdown (Expectations)

- **Automotive sector:** remains largely stable at minus 44.2 points
- **Chemical & pharmaceutical industries:** deteriorate strongly to minus 11 points compared to March
- **Steel & metal production:** deteriorate strongly to minus 21 points compared to March
- **Construction industry:** turns negative at minus 3.8 points

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## Eurozone Metrics

Economic expectations for the eurozone also decline strongly in April:
- **Eurozone Economic Sentiment:** minus 20.4 points (down 11.9 from March)
- **Eurozone Current Conditions:** minus 43.0 points (down 13.1 from March)

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## Methodology Note

The ZEW Indicator of Economic Sentiment is based on a monthly survey of up to 350 financial and economic analysts. The index is constructed as the difference between the percentage share of analysts that are optimistic and the percentage that are pessimistic about the economy, on a scale of -100 to +100.

The April 2026 survey was conducted during the first full week of April 2026.