Brandenburg Gate in Berlin, Germany

Germany Consumer Confidence May 2022

Germany: Consumer sentiment expected to drop to historic low in May

The GfK consumer climate index is forecast to drop to a record low of minus 26.5 in May from minus 15.7 in April on the back of the war in Ukraine and elevated inflation.

The expected deterioration in sentiment came on the back of backward-looking data for April, which is released simultaneously and underpins the May expectation. Economic forecasts nosedived as the war in Ukraine has increased the risk of the German economy entering a recession. Sanctions imposed on Russia in the wake of the invasion of Ukraine as well as disrupted supply chains offset the impact of the rollback of Covid-19 restrictions and a tight labor market. Moreover, income expectations deteriorated further in April. Falling economic and income expectations also dealt a blow to consumers’ propensity to buy.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest