Germany GfK Consumer Confidence

Info

History

Chart

Impact:

High

Source: GfK Group

Latest Release:

Date:

Big Surprise:

5.4

EUR

Actual:

-20.6

Forecast: -26

Previous/Revision:

-24.3

Period: May

Next Release:

Date:

Forecast: -19

Period: Jun

What Does It Measure?

The GfK Consumer Confidence Index measures the confidence consumers have in the economic situation of Germany, explicitly reflecting their willingness to spend. It focuses primarily on consumers' expectations regarding personal financial conditions, the overall economic situation, and major purchases, with key indicators including income expectations and willingness to buy.

Frequency

The GfK Consumer Confidence Index is released monthly, providing preliminary figures that are finalized later in the month, typically published around the end of the preceding month.

Why Do Traders Care?

Traders closely monitor the GfK Consumer Confidence Index as it serves as a leading indicator of consumer spending trends, which are crucial for economic growth. Changes in consumer confidence can significantly influence the market, affecting the Euro (EUR), stocks, and other assets, where an increase suggests future economic strength, and a decrease may imply weakness.

What Is It Derived From?

The index is derived from surveys conducted among around 2,000 consumers in Germany, focusing on their opinions about the current and future economic conditions. It uses a qualitative approach where respondents provide insights into their financial expectations, which are then weighted and aggregated into an index score.

Description

The GfK Consumer Confidence Index provides a snapshot of consumer sentiment relative to previous periods; it highlights potential shifts in consumer behavior that could impact economic activity. This report serves as a key barometer for assessing confidence levels in the German economy, influencing both business forecasts and government policy decisions.

Additional Notes

This index is considered a leading economic indicator, often providing early signals about consumer spending trends that could follow in the broader economy. Analyzing this index alongside other indicators, such as retail sales or purchasing managers' indices, can offer a more comprehensive view of economic health and consumer behavior.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Apr 29, 2025	-20.6	-26	-24.3	5.4
Mar 28, 2025	-24.5	-23	-24.6	-1.5
Feb 26, 2025	-24.7	-21.4	-22.6	-3.3
Jan 29, 2025	-22.4	-20	-21.4	-2.4
Dec 19, 2024	-21.3	-22.5	-23.1	1.2
Nov 27, 2024	-23.3	-18.6	-18.4	-4.7
Oct 29, 2024	-18.3	-20.5	-21	2.2
Sep 26, 2024	-21.2	-21.5	-21.9	0.3
Aug 27, 2024	-22	-18	-18.6	-4
Jul 24, 2024	-18.4	-21	-21.6	2.6
Jun 26, 2024	-21.8	-18.9	-21	-2.9
May 29, 2024	-20.9	-22.5	-24	1.6
Apr 25, 2024	-24.2	-25.9	-27.3	1.7
Mar 26, 2024	-27.4	-27.9	-28.8	0.5
Feb 27, 2024	-29	-29	-29.6
Jan 26, 2024	-29.7	-24.5	-25.4	-5.2
Dec 20, 2023	-25.1	-27	-27.6	1.9
Nov 28, 2023	-27.8	-27.9	-28.3	0.1
Oct 24, 2023	-28.1	-26.6	-26.7	-1.5
Sep 27, 2023	-26.5	-26	-25.6	-0.5
Aug 29, 2023	-25.5	-24.3	-24.6	-1.2
Jul 27, 2023	-24.4	-24.7	-25.2	0.3
Jun 28, 2023	-25.4	-23	-24.4	-2.4
May 25, 2023	-24.2	-24	-25.8	-0.2
Apr 26, 2023	-25.7	-27.9	-29.3	2.2
Mar 29, 2023	-29.5	-29.2	-30.6	-0.3
Feb 24, 2023	-30.5	-30.4	-33.8	-0.1
Jan 24, 2023	-33.9	-33	-37.6	-0.9
Dec 21, 2022	-37.8	-38	-40.1	0.2
Nov 25, 2022	-40.2	-39.6	-41.9	-0.6
Oct 27, 2022	-41.9	-41.9	-42.8
Sep 28, 2022	-42.5	-39	-36.8	-3.5
Aug 26, 2022	-36.5	-31.8	-30.9	-4.7
Jul 27, 2022	-30.6	-28.9	-27.7	-1.7
Jun 28, 2022	-27.4	-27.6	-26.2	0.2
May 25, 2022	-26	-26	-26.6
Apr 27, 2022	-26.5	-16	-15.7	-10.5
Mar 29, 2022	-15.5	-14	-8.1	-1.5
Feb 23, 2022	-8.1	-6.3	-6.7	-1.8
Jan 27, 2022	-6.7	-7.8	-6.9	1.1
Dec 21, 2021	-6.8	-2.7	-1.8	-4.1
Nov 25, 2021	-1.6	-0.5	1	-1.1
Oct 27, 2021	0.9	-0.5	0.4	1.4
Sep 28, 2021	0.3	-1.6	-1.1	1.9
Aug 26, 2021	-1.2	-0.7	-0.4	-0.5
Jul 28, 2021	-0.3	1	-0.3	-1.3
Jun 25, 2021	-0.3	-4	-6.9	3.7
May 27, 2021	-7	-5.2	-8.6	-1.8
Apr 28, 2021	-8.8	-3.5	-6.1	-5.3
Mar 25, 2021	-6.2	-11.9	-12.7	5.7
Feb 25, 2021	-12.9	-14.3	-15.5	1.4
Jan 27, 2021	-15.6	-7.9	-7.5	-7.7
Dec 22, 2020	-7.3	-8.8	-6.8	1.5
Nov 26, 2020	-6.7	-5	-3.2	-1.7
Oct 22, 2020	-3.1	-2.8	-1.7	-0.3
Sep 23, 2020	-1.6	-1	-1.7	-0.6
Aug 28, 2020	-1.8	1.2	-0.2	-3
Jul 23, 2020	-0.3	-5	-9.4	4.7
Jun 25, 2020	-9.6	-12	-18.6	2.4
May 26, 2020	-18.9	-18.3	-23.1	-0.6
Apr 23, 2020	-23.4	-1.8	2.3	-21.6
Mar 26, 2020	2.7	7.1	8.3	-4.4
Feb 20, 2020	9.8	9.8	9.9
Jan 29, 2020	9.9	9.6	9.7	0.3
Dec 20, 2019	9.6	9.8	9.7	-0.2
Nov 26, 2019	9.7	9.6	9.6	0.1
Oct 25, 2019	9.6	9.8	9.8	-0.2
Sep 26, 2019	9.9	9.7	9.7	0.2
Aug 28, 2019	9.7	9.6	9.7	0.1
Jul 30, 2019	9.7	9.7	9.8
Jun 26, 2019	9.8	10	10.1	-0.2
May 28, 2019	10.1	10.4	10.2	-0.3
Apr 30, 2019	10.4	10.3	10.4	0.1
Mar 26, 2019	10.4	10.8	10.7	-0.4
Feb 26, 2019	10.8	10.8	10.8
Jan 30, 2019	10.8	10.3	10.5	0.5
Dec 21, 2018	10.4	10.3	10.4	0.1
Nov 28, 2018	10.4	10.5	10.6	-0.1
Oct 26, 2018	10.6	10.5	10.6	0.1
Sep 27, 2018	10.6	10.5	10.5	0.1
Aug 29, 2018	10.5	10.6	10.6	-0.1
Jul 26, 2018	10.6	10.7	10.7	-0.1
Jun 28, 2018	10.7	10.6	10.7	0.1
May 24, 2018	10.7	10.8	10.8	-0.1
Apr 26, 2018	10.8	10.8	10.9
Mar 28, 2018	10.9	10.7	10.8	0.2
Feb 28, 2018	10.8	10.9	11	-0.1
Jan 25, 2018	11	10.8	10.8	0.2
Dec 22, 2017	10.8	10.8	10.7
Nov 28, 2017	10.7	10.8	10.7	-0.1
Oct 26, 2017	10.7	10.8	10.8	-0.1
Sep 28, 2017	10.8	11	10.9	-0.2
Aug 29, 2017	10.9	10.8	10.8	0.1
Jul 27, 2017	10.8	10.6	10.6	0.2
Jun 29, 2017	10.6	10.4	10.4	0.2
May 24, 2017	10.4	10.2	10.2	0.2
Apr 27, 2017	10.2	9.9	9.8	0.3
Mar 23, 2017	9.8	10	10	-0.2
Feb 23, 2017	10	10.1	10.2	-0.1
Jan 26, 2017	10.2	10	9.9	0.2
Dec 23, 2016	9.9	9.9	9.8
Nov 24, 2016	9.8	9.7	9.7	0.1
Oct 26, 2016	9.7	10	10	-0.3
Sep 28, 2016	10	10.2	10.2	-0.2
Aug 26, 2016	10.2	9.9	10	0.3
Jul 27, 2016	10	9.9	10.1	0.1
Jun 29, 2016	10.1	9.8	9.8	0.3
May 25, 2016	9.8	9.7	9.7	0.1
Apr 27, 2016	9.7	9.4	9.4	0.3
Mar 24, 2016	9.4	9.5	9.5	-0.1
Feb 25, 2016	9.5	9.3	9.4	0.2
Jan 27, 2016	9.4	9.3	9.4	0.1
Dec 22, 2015	9.4	9.3	9.3	0.1
Nov 27, 2015	9.3	9.2	9.4	0.1