Allemagne Indice Du Sentiment Économique Zew

The ZEW Indicator of Economic Sentiment for Germany increased to 37.3 in September 2025 from 34.7 in August, beating forecasts of 26.3. "Financial market experts are cautiously optimistic and the ZEW indicator has stabilized, but the economic situation has worsened. There are still considerable risks, as uncertainty about the US tariff policy and Germany’s ‘autumn of reforms’ continues”, according to ZEW President Achim Wambach. The outlook has improved in particular for export-oriented sectors, which had recently suffered a strong decline. Among the industries that benefit most are the automotive sector, the chemical and pharmaceutical industry and the metal sector. Meanwhile, the current conditions gauge declined for a second consecutive month to -76.4 from -68.6, worse than market expectations of -75.