GfK Reports Germany’s Consumer Confidence Expected to Edge Up
(MENAFN) GfK, market research company, reported on Tuesday that consumer sentiment in Germany is expected to show slight improvement in June, although overall confidence levels remain subdued due to persistent domestic and global economic challenges.
The market research firm predicts the consumer climate index will reach minus 19.9 points in June, marking a modest increase of 0.9 points compared to May’s revised figure of minus 20.8.
Rolf Burkl, a consumer specialist at the Nuremberg Institute for Market Decisions (NIM), which provided the data, explained, “The level of consumer sentiment remains extremely low, and consumer uncertainty remains high.”
Burkl pointed to several key causes behind this fragile mood, including volatile US trade policies, fluctuations in the stock market, and anxieties about Germany potentially experiencing a third year of economic stagnation.
He further noted, “In view of the general economic situation, people seem to think it advisable to save.”
May also saw a notable rise in the income expectations index, climbing 6.1 points to minus 10.4 — the highest since October 2024. Economic expectations similarly gained 5.9 points, reaching 13.1, the best score in two years.
However, despite these improvements, consumer willingness to make purchases declined by 1.5 points to minus 6.4 in May, indicating ongoing caution around non-essential spending.
The report concluded, “Uncertainty caused by the US government's unpredictable customs and trade policy and a rise in unemployment, which is causing many employees to worry about their own jobs, is continuing.”
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