Financial News: German Consumer Confidence Deteriorates

German Consumer Confidence Deteriorates

04/27/2026 - 04:13:00 (RTTNews)

(RTTNews) - German consumer sentiment is set to deteriorate sharply in May as income expectations collapsed due to rising inflation amid the war in Iran, the latest results of the NIM Consumer Climate powered by GfK showed Monday.

The forward-looking consumer confidence index fell to -33.3 in May from -28.1 in April. This was the lowest score since February 2023.

The survey showed that income expectations decreased sharply and the willingness to buy became more pessimistic in April. Meanwhile, the willingness to save showed only a moderate fall.

The economic expectations index, which measures consumers' outlook for the German economy over the coming twelve months, dropped 6.8 points to -13.7 in April.

Consumers increasingly worry that the tentative upturn in the German economy could suffer a serious setback, particularly if the conflict persists and government measures fail to take effect.

Income expectations plunged 18.1 points to -24.4 in April largely driven by cooling economic expectations and rising price expectations.

"Income expectations are literally collapsing because of rising inflation," Rolf Burkl, Head of Consumer Climate at NIM said. "And in this context, people also currently believe that the timing for major purchases is less favourable," Burkl added.

The willingness to buy dropped 3.5 points to -14.4, marking a two-year low in a long-term comparison, GfK said. At the same time, the willingness to save indicator fell to 16.1 from 18.5 in the previous month.

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