Overview

• The GfK and NIM consumer climate index fell by 0.3 points to –20.3 in the July forecast after three consecutive monthly gains.
• The economic indicator rose by seven points to 20.1, marking its strongest reading since the Ukraine war began.
• Consumers are increasing their savings due to ongoing uncertainty and a lack of planning security, which is damping spending.
• Many households expect an economic turnaround in late 2025 based on recent multi-billion-euro stimulus for infrastructure and defense.
• The study surveyed 2,000 consumers on behalf of the EU Commission between May 30 and June 11.