Consumers are increasingly worried that the Eurozone crisis would engulf the German economy. However, households' income expectations continue to resist rising threats from outside. The forward-looking GfK consumer confidence indicator for August rose to 5.9 points, up from the 5.8 points recorded in July. The reading represents the highest level since March and overshot market expectations that had consumer sentiment remaining unchanged. While the GfK's overall consumer climate indicator refers to August, its sub-indices refer to July. Despite a slight drop in the sub-indicator of income expectations compared to the previous month, income prospects have remained at healthy levels. Rising employment, improvement in wages and low inflation provide a significant boost to consumers' purchasing power. Willingness to buy improved slightly over the previous month, benefiting from high income expectations and a stable labour market. In contrast, economic expectations deteriorated in July, reflecting rising difficulties experienced by Spain and Italy, which are key German exports destinations within the Eurozone.
Germany Consumer Confidence
Consumer confidence rises to five-month high
July 26, 2012
Looking for forecasts related to Consumer Confidence in Germany? Download a sample report now.
Germany Consumer Confidence Chart
Note: GfK Consumer Confidence Index.
Source: The GfK Group.
Germany Economic News
October 24, 2016
The Markit Flash Composite Purchasing Managers’ Index (PMI) rose from 52.8 in September to 55.1 in October.
October 10, 2016
The seasonally- and calendar-adjusted trade surplus increased from EUR 19.4 billion in July to EUR 22.2 billion in August, driven up by recovering exports.
October 7, 2016
In August, industrial production rose 2.5% from the previous month in seasonally-adjusted terms, in contrast to July’s large 1.6% drop, which had been the lowest reading in nearly two years.
September 29, 2016
Consumer prices in September rose 0.1% in a month-on-month comparison, according to preliminary data released by the Federal Statistics Office (Destatis) on 29 September.
September 28, 2016
Heading into October, the mood among German consumers weakened slightly but still stayed at a high level.