According to a survey conducted by the market research group, GfK, and the Nuremberg Institute for Market Decisions (NIM), consumer confidence in Germany is poised to increase again in May.
The consumer sentiment index, which anticipates future developments, increased to -24.2 in May, up from a revised -27.3 in April. Though the expectation was a moderate rise to -25.9, the index exceeded this anticipation.
However, GfK pointed out that despite this increase, reaching a two-year high, the score is still considerably low. Rolf Burkl, an expert with NIM, attributed the larger surge in consumer confidence over the past two months primarily to significant improvements in income expectations.
In April, the income expectations index saw a sharp rise of 12.2 points, reaching 10.7. Nevertheless, the propensity to buy index experienced a modest increase of only 2.7 points to -12.6.
Simultaneously, the economic expectations index rose by 3.8 to 0.7 in April, manifesting the best performance since July 2023.
