A monthly survey conducted by the Zentrum für Europäische Wirtschaftsforschung (Centre for European Economic Research) that polls approximately 350 financial market experts on their expectations for the German economy over the next six months. The survey measures economic sentiment among institutional investors and analysts rather than business managers or consumers. Forex and bond traders pay close attention to the ZEW survey as a leading indicator for German and eurozone economic activity.
Example
“The ZEW Financial Market Survey jumped to 19.5 from 9.8, exceeding expectations and sending EUR/USD higher as traders interpreted the improvement as a signal of stronger German growth ahead.”