The ZEW economic expectations survey for Germany showed a slight decline in February 2026. The index fell to 58.3 points – a drop of 1.3 points from the previous month – according to the Centre for European Economic Research (ZEW), which reported the results on Tuesday in Mannheim.
By contrast, the assessment of the current economic situation improved. Germany’s situation indicator rose to -65.9 points, up 6.8 points from the prior month.
ZEW president Achim Wambach said, “The ZEW Index remains stable”. He added that the German economy is in a phase of fragile recovery, noting that structural challenges-especially in industry and private investment-remain significant. He urged that upcoming social‑security reforms should be used to markedly enhance the country’s attractiveness for investment.
Export‑oriented sectors recorded moderate to strong gains in February. Expectations for the chemical and pharmaceutical industry rose by 7.5 points, steel and metal production by 8.6 points, and machine building by 10.9 points. These figures are likely to reflect the better‑than‑expected order inflow seen at the end of 2025.
Private consumption expectations improved by 6.0 points amid ongoing uncertainty. Negative trends were observed in the banking, information technology, and insurance sectors.
Eurozone expectations showed little change, standing at +39.4 points – 1.4 points lower than the previous month. The outlook assessment for the Eurozone improved to -13.6 points, an increase of 4.5 points relative to the prior month.