The war in Ukraine has significantly curbed consumers’ enthusiasm for shopping. The mood to buy is now stabilizing again – albeit at a low level.

After the slump in the consumer climate in Germany as a result of the Ukraine war, the downward trend slowed down again in May.

Expectations for the economy and income as well as the mood to buy stabilized in May, according to the latest study by the Nuremberg consumer research company GfK, which was published on Wednesday. Before that, the war in Ukraine had sent Germans’ buying mood to an all-time low.

“Thus, the consumer climate has improved slightly, but consumer sentiment is still at an all-time low,” said GfK consumer expert Rolf Bürkl. “Despite further easing of corona-related restrictions, the Ukraine war and above all the high inflation are weighing heavily on consumer sentiment,” he emphasized.

A sustainable trend reversal can only be expected when the conflict in Ukraine can be ended through successful peace negotiations. On the other hand, inflation must decrease noticeably. Supply chain problems and a lack of semiconductors are also currently helping to prevent a sustainable recovery.