Bankinter | The ZEW economic sentiment survey showed somewhat mixed data in February. Expectations fell to 58.3 from 59.6 (against 65.2 expected), while the current situation improved in line with expectations to -65.9 from -72.7. The overall indicator remains stable, signalling that the German economy is entering a still fragile recovery phase.
Bankinter analysis team’s view: The largest economy in the European bloc continues to face structural challenges, especially in industry and private investment. Progress in the chemical and pharmaceutical, steel and metals, and mechanical engineering sectors stands out, reflecting an improvement in orders at the end of 2025. Despite the uncertainty, private consumption is also showing a positive trend, while the financial, insurance and technology sectors point to a deterioration. Overall, the data point to an incipient but uneven recovery, supported by industrial improvement and the recovery of business confidence.
