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German consumer confidence ends downward slide but remains weak

Jun 22, 2026 Germany

German consumer confidence increased slightly in May, after a period of decline. However, consumers were still not optimistic about their financial and economic future

Released on the 22^nd of May, the latest NIM (Nuremberg Institute for Market Decisions) Consumer Climate survey powered by GfK revealed that the Consumer Climate indicator for June rose by 3.3 points to -29.8, up from a revised -33.1 in May. Despite this improvement, it remains at a comparatively low level, reflecting continued caution among consumers.

“Consumer Climate has, at least for the moment, ended its downward trend and is recovering somewhat this month,” explains Rolf Bürkl, Head of Consumer Climate at NIM. “In addition to the significantly improved income outlook, a decreasing willingness to save and a slightly increasing willingness to buy are currently supporting the Consumer Climate”.

The income expectations indicator increased by 11.4 points month-on-month, reaching -13.0 and recovering some of the losses recorded following the escalation of conflict in the Middle East. The absence of further escalation, coupled with expectations of potential government relief measures, may have helped to ease some concerns among households.

Consumers also became slightly more willing to make purchases. Although still negative, the willingness-to-buy indicator increased by 1.2 points, reaching -13.2. At the same time, the willingness-to-save indicator fell by 2.2 points to 13.9, marking the third consecutive monthly decrease.

Overall, economic expectations improved modestly. The indicator increased by 2.5 points to -11.2; however, most consumers still expect Germany's economic situation to deteriorate over the next 12 months.

About the survey

The Consumer Climate Survey is based on around 2,000 interviews conducted on behalf of the European Commission between the 30^th of April and the 11^th of May. The June Consumer Climate Indicator is calculated using data from May on income expectations, willingness to buy, and willingness to save.

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Germany Confidence Economy