Germany Consumer Confidence

Last Release

Apr 30, 2024

Actual

-27.4

Units In

Points

-28.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
16.8 Mar 2001	-42.8 Oct 2022	2.13 Points	2001-2024	GfK Group

The GfK Consumer Climate Indicator is based on a survey of 2000 individuals age 14 and above. The questionnaire focuses on income expectations, buying propensity and savings. The components of the indicator are calculated as the difference between positive and negative answers to the questions asked. Their value can vary between minus 100 and plus 100 points with 0 representing the long term average.

Latest Updates

The GfK Consumer Climate Indicator for Germany edged up to -27.4 heading into April 2024 from a marginally revised -28.8 in the previous period, compared with market forecasts of -27.9. It was the highest reading since the start of the year, reflecting modest rises in income expectations (-1.5 vs -4.8 in March) and economic prospects (-3.1 vs -6.4). In the meantime, the propensity to buy was little changed (-15.3 vs -15.0), lingering at a very low level in almost two years. Concurrently, the propensity to save eased but remained extremely high (12.4 vs 17.4). “The recovery of the consumer climate is progressing slowly and very sluggishly,” said Rolf Bürkl, consumer expert at NIM. He highlighted that consumers still lack planning security and optimism for the future and that a sustained recovery of the German economy will remain a long time coming. For this to happen, a further decline in inflation was needed, along with a clear political strategy from the government.