German consumer sentiment set to deteriorate in March

(Sharecast News) - German consumer sentiment was set to deteriorate in March, according to a survey released on Wednesday by GfK and the Nuremberg Institute for Market Decisions (NIM). The forward-looking consumer climate index fell to -24.7 points from a revised -22.6 the month before, marking the lowest level since April 2024. Analysts were expecting it to edge up to -21.4 points.

Rolf Bürkl, consumer expert at NIM, said: "The current figures show no signs of a recovery in consumer sentiment in Germany. The consumer climate has been stagnating at a low level since the middle of last year. There is still a great deal of uncertainty among consumers and a lack of planning security.

"A fast formation of a new federal government after the parliamentary elections and the rapid approval of this year's budget would give both companies and private households more certainty when it comes to planning. This would create important conditions for consumers to be more willing to spend money and to revive consumption."