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- German consumers were still highly confident in May - GfK
German consumers were still highly confident in May - GfK
German consumers were still highly confident in May of this year, providing reliable support to the German economy. This was reflected in heightened expectations of the economy and income. Propensity to buy fell slightly, but still remained at a high level. GfK predicts the consumer climate to reach 10.4 points in its forecast for June, which is 0.2 points higher than in May.
Germans view their domestic economy as definitively on the upswing, even in late spring of 2017. This is evidenced by the improvement in economic expectation in May, which reached a new two-year high. Income expectation also profited with a further increase on its already high level. Although propensity to buy did lose its gains from the previous month, it nevertheless achieved a historically high level in May, also reflecting the good mood among consumers.
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