Good Morning from Germany, where consumer confidence remains stuck near crisis levels. GfK Consumer Sentiment for July edged up only slightly to -29.2 from -29.7, still far below pre-Covid levels. Income expectations improved a bit, but buying appetite stays weak and savings intentions high; bad news for Germany’s private consumption engine.

Good Morning from Germany, where consumer confidence remains stuck near crisis levels. GfK Consumer Sentiment for July edged up only slightly to -29.2 from -29.7, still far below pre-Covid levels. Income expectations improved a bit, but buying appetite stays weak and savings… pic.twitter.com/mj6vQRO617

— Holger Zschaepitz (@Schuldensuehner) June 25, 2026