Germany: GFK consumer confidence is located at -24.5 in April, below expected

He GFK consumer trust index of Germany has improved a tenth in April, standing at -24.5 compared to -24.6 March points. The figure worsens market expectations, since an improvement at -23 was expected.

According to the statement, in the first survey after the new elections to the German Parliament, consumer confidence shows a slight recovery: both economic and income expectations and income improve and the willingness to buy improve. However, since the willingness to save also increases this month, the climate of consumption remains practically unchanged.

The savings indicator increased 4.4 points in March, reaching 13.8 points. This is the highest value since April 2024, when 14.9 points were measured.

“Apparently, the elections and perspective of a new government have relieved pessimism among several consumers. However, the renewed increase in disposition to savings mar. Prevents a more significant improvement in the consumption climate, ”he explains Rolf Bürkl, NIM consumption expert. “The high disposition to savings can still be interpreted as an expression of considerable uncertainty among consumers. A rapid government formation and the prompt approval of a budget for this year would be an important factor for greater planning security, not only for companies, but also for homes. Because then they would be more willing to spend money again and stimulate consumption. ”

Euro reaction

The euro has reacted with a rise of more than 15 pips that has led him to the 1,0800 zone, although at the time of writing the EUR/USD he has lost impulse and falls 0.08% in the day in 1,0793.