German Gfk consumer sentiment for June rose to -18.9, up from -23.1. Economic expectations improved to -10.4, up from -21.4. Income expectations rose to -5.7, up from -19.3.
“The gradual opening of many businesses has certainly contributed to the propensity to consume not having to take any further hits, and increases even slightly at the present time,” explains Rolf Bürkl, GfK Consumer Expert. “Nevertheless, uncertainty among consumers is high. In their opinion, the Germany economy is far from being over the hump and they are anticipating a tough recession. Anxiety over job losses remains high and has proven to be a key barrier to consumption at this time, alongside losses in income. Retailers and manufacturers must continue to adapt to this situation.”
