The GfK Consumer Climate Indicator for Germany was unchanged at -0.3 heading into August of 2021, remaining at 1-year high but well below market forecasts of 1. The indicator remains much below 10 level before the pandemic, as rising coronavirus infections and a stagnation of the vaccination progress weigh on consumers' mood. Economic and income expectations declined slightly and inflation is expected to rise while propensity to buy increased. However, "despite the current stagnation of consumer confidence, the domestic economy will make a positive contribution to overall economic development in the second half of the year" said Rolf Brkl, a GfK consumer expert. source: GfK Group

Consumer Confidence in Germany averaged 5.48 points from 2001 until 2021, reaching an all time high of 16.80 points in March of 2001 and a record low of -23.10 points in May of 2020. 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 July of 2021.

Consumer Confidence in Germany is expected to be 5.10 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 7.50 points in 2022 and 5.10 points in 2023, according to our econometric models.

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Germany GfK Consumer Climate

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 -0.30 16.80 -23.10 2001 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-28 06:00 AM May -8.8 -6.1 -3.5 -3.8
2021-05-27 06:00 AM Jun -7 -8.6 -5.2 -3
2021-06-25 06:00 AM Jul -0.3 -6.9 -4 -3
2021-07-28 06:00 AM Aug -0.3 -0.3 1 -2
2021-08-20 06:00 AM Sep
2021-09-20 06:00 AM Oct
2021-10-20 06:00 AM Nov
2021-11-22 07:00 AM Dec


News Stream
Germany Consumer Climate Below Forecasts
The GfK Consumer Climate Indicator for Germany was unchanged at -0.3 heading into August of 2021, remaining at 1-year high but well below market forecasts of 1. The indicator remains much below 10 level before the pandemic, as rising coronavirus infections and a stagnation of the vaccination progress weigh on consumers' mood. Economic and income expectations declined slightly and inflation is expected to rise while propensity to buy increased. However, "despite the current stagnation of consumer confidence, the domestic economy will make a positive contribution to overall economic development in the second half of the year" said Rolf Brkl, a GfK consumer expert.
2021-07-28
German Consumer Morale Rises More than Expected
The GfK Consumer Climate Indicator in Germany increased to -0.3 heading into July 2021, the highest level since August 2020 and well above market expectations of -4.0, as consumers became more optimistic and willing to buy following the relaxation of coronavirus-induced restrictions. The income expectations sub-index increased by 14.6 points to 34.1 and the gauge for economic outlook climbed 17.3 points to 58.4, its highest level in a decade. In addition, consumers' propensity to buy, however, rose only moderately (up 3.4 points to 13.4). "Despite the opening or withdrawal of restrictions, a number of industries - especially in the services sector - are still severely restricted," GfK consumer expert Rolf Buerkl said in a statement.
2021-06-25
German Consumer Confidence Disappoints
The GfK Consumer Climate Indicator in Germany increased to -7 heading into June of 2021 from a revised -8.6 in May and compared with market forecasts of -5.2. Improvements were seen for income (19.5 vs 9.3) and business (41.1 vs 7.3) expectations as a decrease in coronavirus cases and further progress with vaccinations were opening the door to more easing steps in the coming weeks. In contrast, willing to buy decreased (10 vs 17.3) although once all lockdown measures are lifted, households are ready to splash out over the summer months as they put aside a lot of money during the pandemic, GfK consumer expert Rolf Buerkl said.
2021-05-27
Germany Consumer Climate Drops as Covid-19 Weighs
The GfK Consumer Climate Indicator in Germany fell to -8.8 heading into May of 2021, after rising to -6.1 in the previous month and worse than market forecasts of -3.5, amid mounting coronavirus infections and the re-tightening of restrictions. Income (9.3 vs 22.3) and economic expectations (7.3 vs 17.7) worsened while the willingness to buy improved (17.3 vs 12.3). "Hopes for further easing of restrictions and a revival of consumption have been noticeably dampened and the economy still has a long way to go before recovering. Consumption will not be a pillar this year", said Rolf Bürkl, GfK consumer expert.
2021-04-28

Germany GfK Consumer Climate
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.