Overview

• The GfK Consumer Confidence Index increased to -19 in March 2025, its highest level in three months but still below the long-term average of -10.
• Optimism about the general economic outlook improved, with expectations for the next 12 months rising by two points to -29.
• Personal financial expectations declined slightly, falling by one point to +1, highlighting continued concerns at the household level.
• Confidence in major purchases remained unchanged at -17, indicating persistent caution among consumers regarding big-ticket spending.
• Analysts warn that the improvement in sentiment is fragile, with high inflation and interest rates continuing to weigh heavily on consumer morale.