The GfK consumer sentiment indicator for Germany dropped unexpectedly to 10.1 heading into June 2019 from a downwardly revised 10.2 in the previous month and missing market estimates of 10.4. This was the weakest reading since May 2017, as both economic outlook and the willingness to buy fell following government's recent decision to revised lower its 2019 GDP growth forecast to 0.5 percent, due to rising global headwinds. The economic expectations sub-index fell 1.7 points following a loss of 1.3 points previously, and the gauge measuring consumers' willingness to buy fell 2.6 points to 50.5. Meanwhile, the income expectations sub-index edged up 0.9 points to 57.7. Consumer Confidence in Germany averaged 6.29 Index Points from 2001 until 2019, reaching an all time high of 16.80 Index Points in March of 2001 and a record low of -3.50 Index Points in March of 2003.
Consumer Confidence in Germany is expected to be 10.50 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Germany to stand at 9.40 in 12 months time. In the long-term, the Germany GfK Consumer Climate is projected to trend around 8.50 Index Points in 2020, according to our econometric models.