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.