The GfK consumer sentiment indicator for Germany rose to -0.3 heading into August 2020 from an upwardly revised -9.4 in the previous month and compared with market consensus of -5. This was the third straight month of improvement in consumer morale, still remaining well below pre-pandemic levels, boosted by a temporary reduction in value-added tax (VAT) as part of the stimulus package from the government to help the economy recover from the COVID-19 crisis. The gauge for income expectations went up 12 points to 18.6 and the index for willingness to buy jumped 23.1 points to 42.5. Also, the economic expectations index increased 2.1 points to 10.6, the highest since December 2018.

Consumer Confidence in Germany averaged 6.06 points from 2001 until 2020, 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 August of 2020. source: GfK Group

Consumer Confidence in Germany is expected to be -2.20 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 4.00 in 12 months time. In the long-term, the Germany GfK Consumer Climate is projected to trend around 6.40 points in 2021 and 7.50 points in 2022, according to our econometric models.

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Germany GfK Consumer Climate

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 -9.40 16.80 -23.10 2001 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-23 06:00 AM May -23.4 2.3 -1.8 -3
2020-05-26 06:00 AM Jun -18.9 -23.1 -18.3 -18
2020-06-25 06:00 AM Jul -9.6 -18.6 -12 -13
2020-07-23 06:00 AM Aug -0.3 -9.4 -5 -4
2020-08-28 06:00 AM Sep -0.3 -2.2
2020-09-23 06:00 AM Oct
2020-10-30 07:00 AM Nov
2020-11-30 07:00 AM Dec -1.3


News Stream
German Consumer Morale Stronger than Forecast
The GfK consumer sentiment indicator for Germany rose to -0.3 heading into August 2020 from an upwardly revised -9.4 in the previous month and compared with market consensus of -5. This was the third straight month of improvement in consumer morale, still remaining well below pre-pandemic levels, boosted by a temporary reduction in value-added tax (VAT) as part of the stimulus package from the government to help the economy recover from the COVID-19 crisis. The gauge for income expectations went up 12 points to 18.6 and the index for willingness to buy jumped 23.1 points to 42.5. Also, the economic expectations index increased 2.1 points to 10.6, the highest since December 2018.
2020-07-23
German Consumer Morale Stronger than Forecast
The GfK consumer sentiment indicator for Germany rose to -9.6 heading into July 2020 from an upwardly revised -18.6 in the previous month and compared with market consensus -12.0. Both economic and income expectations improved, as well as propensity to buy, following the gradual lifting of restrictions imposed to contain the coronavirus. The gauge for business cycle expectations jumped 18.9 points to +8.5, the highest reading since January 2019 and far above its long-term average of zero. Also, the income expectations index advanced 12.3 points to +6.6 and the willingness to buy indicator rose 13.9 points to +19.4.
2020-06-25
German Consumer Morale Second-Lowest on Record
The GfK consumer sentiment indicator for Germany rose to -18.9 heading into June 2020 from an all-time low of -23.1 in the previous month and compared with market consensus of -18.3. It was the second-lowest value on record as the country gradually reopens its economy. The economic expectations indicator rose by 11 points to -10.4 after declining in the previous two months, and the income expectations index went up 13.6 points to -5.7 following an unprecedented record loss a month earlier. In addition, the gauge measuring willingness to buy added 10.1 points to 5.5. Still, uncertainty remained high as consumers anticipated a severe recession.
2020-05-26
German Consumer Morale Hits Record Low
The GfK consumer sentiment indicator for Germany plunged to -23.4 going into May 2020 and far below market consensus of -1.8 and after a downwardly revised 2.3 in the prior month. It is the lowest reading on record as consumers felt for the first time the full extent of coronavirus restrictions, such as school, business and production closures and exit restrictions. Both income expectations and the willingness to buy were in freefall, while economic expectations suffered moderate losses. The income expectations fell 47.1 points to -19.3, the lowest since the data collection began in 1980. In addition, the willingness to buy lost 36 points to -4.6. At the same time, the economic expectations indicator fell 2.2 points to -21.4, the lowest since May 2009.
2020-04-23

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.