Brandenburg Gate in Berlin, Germany

Germany Consumer Confidence May 2023

Germany: Consumer confidence expected to rise in May

The GfK consumer climate index is forecast to rise further to minus 25.7 in May from minus 29.3 in April.

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

Looking at the April data, consumers became less pessimistic about their personal finances and spending intentions in the year ahead. In addition, consumers became more optimistic about the economy in the year ahead. Consumers likely became less pessimistic overall thanks to the energy crisis abating as a result of government intervention and lower natural gas prices: Harmonized inflation fell to 7.8% in March, a one-year low.

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