Germany's GfK Consumer Climate Indicator increased for an eighth straight month to -24.2 heading into June 2023, the highest reading since April last year and compared to forecasts of -24. A decline in the propensity to save was the main contributor to the improvement in consumers' mood, as expected wage gains help to ease concerns regarding a fall in purchasing power due to inflation. Income expectations also advanced due to an anticipated rise in wages. However, consumer sentiment is not showing a clear upward trend and it is still below the low level of spring 2020 during the first covid lockdown, according to Rolf Bürkl, GfK consumer expert. source: GfK Group
Consumer Confidence in Germany averaged 3.21 points from 2001 until 2023, reaching an all time high of 16.80 points in March of 2001 and a record low of -42.80 points in October of 2022. This page provides the latest reported value for - Germany Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GfK Consumer Climate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Consumer Confidence in Germany is expected to be -24.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany GfK Consumer Climate is projected to trend around -6.00 points in 2024 and -2.00 points in 2025, according to our econometric models.