In view of rising prices as a result of the Iran war and concerns about a weak economy, purchasing sentiment in Germany continues to decline. According to the current study by the NIM and GfK institutes, this is decreasing Consumer climate for May by 5.2 to minus 33.3 points, reaching its lowest level since February 2023.
NIM market researchers said consumers were much more skeptical about their future financial situation and general economic developments. Graduate economist Rolf Bürkl said: “Income expectations are literally collapsing as a result of increased inflation.” Accordingly, this sub-barometer also fell to its lowest value since February 2023. “And against this background, people currently consider the time for larger purchases to be less favorable,” said Bürkl.
The willingness to spend money on major purchases fell for the third time in a row and reached its lowest level in two years. At the same time, consumers’ willingness to save has declined slightly.
This article will continue to be updated.