The GfK experts expect the consumer climate to go back to -24.7 points for March 2025 compared to the previous month (revised -22.6 points). Investment expectations and acquisition tendency are declining; Only the savings tendency increases by 1.2 points and climbs to 9.4 points.
“The current figures show no signs of recovery in the consumption mood in Germany. The consumer climate has been stagnating at a low level since the middle of last year. The uncertainty among consumers is still great and planning security is missing, ”explains Rolf Bürkl, consumer expert at the NIM. “The rapid formation of a new federal government after the federal elections and a rapid adoption of the budget for this year would lead to more planning security for both companies and private households. This would give important framework conditions so that consumers would be more willing to spend money and revitalize consumption. ”
Income expectations: Consumers appreciate the financial situation of their own budget for the second time in a row for the second time in a row. The indicator loses 4.3 points compared to January and thus drops to -5.4 points. A lower value was last measured in January 2024: at that time the income expectation was -20 points.
The income indicator thus continues its downward trend, which started in the middle of last year, in February of this year. The increases would primarily be the increased prices, an uncertain economic or political situation and dissatisfaction with politics, says Bürkl.
Property tendency: The proportion of acquisitions remained trapped in February between declining income prospects and an increasing tendency to save. The indicator loses 2.7 counters and currently has -11.1.1 points. The value was last eight months ago: -13 points were measured in June 2024. Reports on impending work closes, production relocations abroad and personnel loss in German industry, especially for car manufacturers and their suppliers, lead to increasing concerns about the workplace. The situation is still exacerbated by the fact that due to the weak overall economic development, the number of corporate slides has increased significantly and is expected to continue to increase. Therefore, according to GfK, many households will continue to handle their expenses carefully.
After all, in contrast to income expectations and acquisition tendency, the Germans currently rate the economic prospects for the next 12 months. After an increase of 2.8 points, the economic indicator increases to 1.2 points. 2025 threatens to become another economically weak year. Some experts do not quite rule out recessive development for a third year in a row. That would be a novelty in the history of the Federal Republic.
