People in Germany’s mood has further improved. Consumer mood continued in April its recovery that started in the previous month, according to the latest consumer climate study by the Nuremberg Institute GfK and NIM. Both the income expectation and the propensity to purchase recorded noticeable growth, while the economic expectation has only improved slightly.
The tendency to save had decreased significantly. This supports the consumer climate. “The realignment of the trade policy of the US administration, which began with the announcement of strong customs increases shortly before the start of the surveys at the beginning of April, has apparently not yet affected the mood of consumers in Germany,” said Nim consumption expert Rolf Bürkl.
Possible negative effects could probably be compensated for by concluding the coalition negotiations and the prospect of a government that was soon capable of acting. “Apparently it is more important for German consumers: so far more important that government formation can now be formed quickly. This loses a central trigger of the previous uncertainty – and accordingly the pensity has also decreased,” said Bürkl.
Income expectations increased
Whether the decline will continue in the coming months depends on the development of the global conflict of trade. The expectations of income and the development of the economy have increased noticeably – although the experts’ forecasts had to be corrected again and in the third year in a row there was a minus in economic output. According to the scientists, the collective bargaining in public service should play a role in the better income expectations, which lies through current price increase rate.
For the April study, around 2,000 consumer interviews were conducted from April 3 to April 14, 2025. It is carried out monthly on behalf of the EU Commission.