The GfK Germany Consumer Climate Indicator is projected to rise by 3.7 pts to -20.6 in May, up from a revised -24.3 in April and above expectations of a -26 reading.

• Savings indicator fell by -5.4 pts to 8.4 in April, after two months of increases.
• Income expectations rose 7.4 pts to 4.3 in April, the highest since October 2024, but down -6.4 pts YoY.
• Willingness to buy increased by 3.3 pts to -4.9, improving 7.7 pts YoY but still at a low level.
• Economic expectations rose slightly by 0.3 pts to 7.2, up 6.5 pts YoY, despite ongoing recession concerns.
• Inflation is expected to remain just over 2%, while collective bargaining agreements are set to boost public sector wages by 3% starting April 1, 2025.