German consumer sentiment worsens in July as economic optimism fades

Germany’s consumer sentiment worsened in July, with GfK’s Consumer Climate forecast dropping to –21.5 for Aug.
While income expectations rose for the 5th month to a 12-month high, economic expectations fell sharply and willingness to buy declined.
Savings sentiment reached a 17-month high, reflecting persistent uncertainty.
Despite stable inflation and wage growth, consumers remain hesitant to spend.