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Germany Consumer Confidence August 2023

Germany: Consumer sentiment expected to rise in August

The GfK consumer climate index is forecast to rise to minus 24.4 in August from minus 25.2 in July, marking the eighth rise in nine months.

The expected uptick in sentiment follows the revision of backward-looking data for July, which is released simultaneously and underpins the August expectation.

Looking at the July data, for the year ahead, consumers became less pessimistic about their personal finances and slightly less downbeat about their spending intentions. This may be linked with the gradual easing of inflation in recent months, which has given household purchasing power some respite.

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