- GfK consumer sentiment -29.8 vs -34.0 expected
- Prior -33.3; revised to -33.1
German consumer sentiment is seen recovering slightly heading into June, amid a rebound in households’ income expectations. The reading there shows an improvement to -13.0, after recording a -24.4 estimate for May last month. That being said, the index for willingness to buy among consumers remains subdued at -13.2 – marking just a minor improvement from -14.4 previously.
GfK notes that:
“The German consumer climate has, at least for the moment, ended its downward trend and is recovering somewhat this month.”
Still, it’s no time to be all too cheerful. As price pressures continue to ramp up with the US-Iran conflict being prolonged, that will only continue to inflict a heavier toll on German households. That as businesses will have to eventually pass on higher costs to consumers in due time.
