Latest data released by GfK - 28 April 2021

  • Prior -6.2; revised to -6.1

Tighter restrictions weighed on German consumer morale, seeing the reading miss on expectations and even falling as compared to April. GfK notes that:

"The recovery of the domestic economy will continue to lag due to the third wave. As in 2020, consumption will again not be a pillar of the economy this year. In the years before the pandemic, private consumer spending had still made an important contribution to the growth of the German economy."