The GfK Consumer Climate Indicator in Germany declined to a fresh record low of -27.4 heading into July of 2022 from an upwardly revised -26.2 in June, and compared to market forecasts of -27.7. All main sub-indexes suffered losses, with the increase in cost living weighing heavily and as consumers continue to see a significant risk of the German economy slipping into recession. The economic expectations gauge fell to -11.7 from -9.3; income expectations went down to -33.5 vs -23.7, the lowest value in almost 20 years; and the propensity to buy dropped to -13.7 from -11.1. " The ongoing war in Ukraine and disrupted supply chains are causing energy and food prices in particular to explode and making the consumer climate more gloomy than ever," Rolf Bürkl, GfK consumer expert said. source: GfK Group
Consumer Confidence in Germany averaged 4.79 points from 2001 until 2022, reaching an all time high of 16.80 points in March of 2001 and a record low of -27.40 points in July of 2022. 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 2022.
Consumer Confidence in Germany is expected to be -25.20 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 6.50 points in 2023 and 5.10 points in 2024, according to our econometric models.