Latest data released by GfK - 27 May 2021
- Prior -8.8; revised to -8.6
A slight miss on expectations as German consumer morale improves less than expected going into June, with shoppers looking more cautious despite the better outlook.
GfK notes that:
"The drop in coronavirus cases and further progress with vaccinations is helping to open the door to more easing steps in the coming weeks. At the moment, this is mainly fueling economic optimism and creating a sense of new beginnings."
Adding that there might be a potential for demand conditions to surge over the summer months once all lockdown measures are lifted moving forward.
