Germany Gfk Consumer Sentiment for May improved from -29.3 to -25.7, above expectation of -27.5. In April, Economic Expectations rose sharply from 3.7 to 14.3. Income Expectations rose from -24.3 to -10.7. Propensity to Buy rose from -17.0 to -13.1.
The seventh increase in a row indicates that consumer sentiment is gathering momentum. “Following a rather small increase in the previous month, consumer sentiment is showing clear signs of an upswing this month,” explains Rolf Bürkl, GfK consumer expert.
“However, the value still remains below pre-pandemic levels of around three years ago. On another positive note, income expectations have risen for the seventh time in a row, returning to the level prior to the start of the war in Ukraine for the first time.”