Germany’s GfK Consumer Climate Indicator is projected to rise by 0.9 pts to -19.9 in June (up from a downwardly revised May reading of -20.8), the highest since November 2024, but still at a low level.

• Income expectations rose 6.1 pts to 10.4, the highest since October 2024, supported by solid wage deals and easing inflation (2.1% in April).
• Economic expectations climbed 5.9 pts to 13.1, marking the fourth straight monthly gain and the highest since April 2023.
• Willingness to buy declined -1.5 pts to -6.4, reflecting consumer caution despite improved income prospects.
• Savings willingness increased 1.6 pts to 10.0, suggesting a continued preference for caution amid trade and labor market uncertainty.