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Germany Consumer Confidence June 2023

Germany: Consumer confidence expected to rise in June

The GfK consumer climate index is forecast to rise further to minus 24.2 in June from minus 25.8 in May.

The expected uptick in sentiment follows backward-looking data for May, which is released simultaneously and underpins the June expectation.

Looking at the May data, consumers became less pessimistic about their personal finances in the year ahead, driving the improvement in consumer sentiment in May. Less positively, for the year ahead, consumers became less optimistic about the economy and their spending intentions. Consumers likely became less pessimistic overall thanks to the energy crisis easing as a result of government measures and lower natural gas prices; harmonized inflation fell to 7.6% in April, a more than one-year low.

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