2025年6月，德国ZEW经济景气指数飙升22.3点，至47.5点，创下自3月份51.6的三年峰值以来的最高水平，远超市场预期的35点。乐观情绪继续增长，这得益于最近投资和消费需求的上升，人们相信德国新政府的财政措施，再加上欧洲央行最近的降息，可能标志着欧洲最大经济体近三年经济停滞的结束。此外，当前经济状况指数提高了10.0点，达到-72.0，这是自2023年4月以来该指标的最大增幅。

The ZEW Indicator of Economic Sentiment for Germany surged by 22.3 points to 47.5 in June 2025, marking its highest level since March’s three-year peak of 51.6 and far exceeding market expectations of 35. Optimism continued to grow, supported by a recent uptick in investment and consumer demand, amid the belief that fiscal measures from the new German government, combined with recent ECB rate cuts, may signal the end of nearly three years of economic stagnation in Europe’s largest economy. Additionally, the current economic conditions index improved by 10.0 points to -72.0, the sharpest increase in this measure since April 2023.

德国6月ZEW经济景气指数跃升至47.5，而预期为35。德国ZEW经济景气指数从5月的25.2跃升至6月的47.5，大大超过了市场预测的35。

German ZEW Economic Sentiment Index leaps to 47.5 in June vs. 35 expected.The headline German ZEW Economic Sentiment Index jumped to 47.5 in June from 25.2 in May, beating the market forecast of 35 by a wide margin.

德国ZEW调查-6月经济情绪高于预测（35）：实际（47.5）。德国ZEW调查-6月经济情绪高于预测（35）：实际（47.5）

Germany ZEW Survey – Economic Sentiment above forecasts (35) in June: Actual (47.5).Germany ZEW Survey – Economic Sentiment above forecasts (35) in June: Actual (47.5)

法兰克福DAX指数周二下跌逾1%，收于23375点左右，为5月8日以来的最低水平，反映出市场对以色列-伊朗冲突可能升级的担忧再次加剧，市场普遍持负面情绪。两国连续第五天继续相互攻击，而特朗普总统呼吁立即撤离德黑兰，这加剧了投资者对该地区紧张局势如何以及何时缓解的不确定性。莱茵金属（-3.1%）、拜耳（-2.5%）、德国电信（-1.9%）和费森尤斯医疗（-1.9%。SMA太阳能技术（-5.5%）和Nordex（-2.5%）等可再生能源股也面临压力，此前有报道称参议院财政委员会正在考虑在2028年前逐步取消太阳能和风能税收抵免。

Frankfurt's DAX fell more than 1% to trade around 23,375 on Tuesday, its lowest since May 8, reflecting a negative sentiment across markets amid renewed concerns over a potential escalation in the Israel-Iran conflict. Both countries continued attacking each other for a fifth straight day, while President Trump called for the immediate evacuation of Tehran, fueling investor uncertainty about how and when tensions in the region might ease. Rheinmetall (-3.1%), Bayer (-2.5%), Deutsche Telekom (-1.9%) and Fresenius Medical Care (-1.9%) were among the top losers. Renewable energy shares such as SMA Solar Technology (-5.5%) and Nordex (-2.5%) were also under pressure after reports emerged that the Senate Finance Committee is considering phasing out solar and wind tax credits by 2028.