Germany’s GfK Consumer Climate Indicator dropped to -24.7 heading into March 2026 from a marginally revised -24.2 in the prior period, missing market estimates of -23.1. Economic expectations weakened (4.3 vs 6.6 in February), reflecting a more cautious outlook amid persistent uncertainty. The willingness to buy also deteriorated sharply (-9.3 vs -4.0), while the propensity to save rose to a record high of 18.9 (vs 17.9), suggesting households remain defensive. In contrast, income expectations improved (6.5 vs 5.1), likely supported by easing inflation and wage gains. “Even though the economy appears to be recovering slightly, consumers remain skeptical,” said Rolf Bürkl, head of consumer climate at NIM. “Geopolitical tensions, but also challenges in social policy, are likely to keep uncertainty and thus also the willingness to save high,” he added. source: GfK Group

Consumer Confidence in Germany decreased to -24.70 points in March from -24.20 points in February of 2026. Consumer Confidence in Germany averaged 0.27 points from 2001 until 2026, reaching an all time high of 16.80 points in March of 2001 and a record low of -42.80 points in October of 2022. This page provides the latest reported value for - Germany Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GfK Consumer Climate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

Consumer Confidence in Germany decreased to -24.70 points in March from -24.20 points in February of 2026. Consumer Confidence in Germany is expected to be -23.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany GfK Consumer Climate is projected to trend around -14.00 points in 2027 and -10.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-28 07:00 AM
GfK Consumer Confidence
Feb -24.1 -26.9 -25.8 -26
2026-02-25 07:00 AM
GfK Consumer Confidence
Mar -24.7 -24.2 -23.1 -23.8
2026-03-26 07:00 AM
GfK Consumer Confidence
Apr -24.7


Related Last Previous Unit Reference
Bank Interest Rate 3.97 3.94 percent Dec 2025
GfK Consumer Confidence -24.70 -24.20 points Mar 2026
Consumer Credit 237345.00 238008.00 EUR Million Dec 2025
Consumer Spending 484.81 482.32 EUR Billion Dec 2025
Disposable Personal Income 670.87 668.06 EUR Billion Dec 2025
Gasoline Prices 2.18 2.19 USD/Liter Feb 2026
Households Debt to GDP 49.20 49.40 percent of GDP Jun 2025
Households Debt to Income 75.29 77.75 percent Dec 2024
Personal Savings 10.30 10.50 percent Dec 2025
Private Sector Credit 3869100.00 3880700.00 EUR Million Dec 2025
Retail Sales MoM -0.90 1.20 percent Jan 2026
Retail Sales YoY 1.20 1.50 percent Jan 2026


Germany GfK Consumer Climate
The GfK Consumer Climate Indicator is based on a survey of 2000 individuals age 14 and above. The questionnaire focuses on income expectations, buying propensity and savings. The components of the indicator are calculated as the difference between positive and negative answers to the questions asked. Their value can vary between minus 100 and plus 100 points with 0 representing the long term average.
Actual Previous Highest Lowest Dates Unit Frequency
-24.70 -24.20 16.80 -42.80 2001 - 2026 points Monthly
SA

News Stream
German Consumer Morale Unexpectedly Falls
Germany’s GfK Consumer Climate Indicator dropped to -24.7 heading into March 2026 from a marginally revised -24.2 in the prior period, missing market estimates of -23.1. Economic expectations weakened (4.3 vs 6.6 in February), reflecting a more cautious outlook amid persistent uncertainty. The willingness to buy also deteriorated sharply (-9.3 vs -4.0), while the propensity to save rose to a record high of 18.9 (vs 17.9), suggesting households remain defensive. In contrast, income expectations improved (6.5 vs 5.1), likely supported by easing inflation and wage gains. “Even though the economy appears to be recovering slightly, consumers remain skeptical,” said Rolf Bürkl, head of consumer climate at NIM. “Geopolitical tensions, but also challenges in social policy, are likely to keep uncertainty and thus also the willingness to save high,” he added.
2026-02-25
German Consumer Morale Beats Estimates
Germany’s GfK Consumer Climate Indicator rose to -24.1 heading into February 2026, up from a near two-year low of -26.9 in the prior period, topping market forecasts of -25.8. Income expectations rebounded sharply (5.1 vs -6.9 in January), signaling easing pressure on household finances. Economic expectations also strongly picked up (6.6 vs 1.2), pointing to a much more optimistic outlook. Further, the willingness to buy improved (-4.0 vs -7.5), as inflation concerns waned. Meanwhile, the propensity to save slipped from its highest level since mid-2008 (17.9 vs 18.7). “With the current increase, the consumer climate has recovered a significant portion of the strong losses from the previous month. However, the level remains low,” said Rolf Buerkl, head of consumer climate at NIM. He cautioned that the upturn remains fragile amid geopolitical tensions and uncertain trade conditions, adding that it is unclear whether the positive trend can be sustained in the coming months.
2026-01-28
German Consumer Morale Falls to Near 2 Year Low
Germany’s GfK Consumer Climate Indicator dropped sharply to -26.9 heading into January 2026 from a marginally revised -23.4 in the prior period, missing market forecasts of -23.2 and hitting its lowest level since April 2024. The decline reflected renewed household caution, with buying willingness slipping (-7.5 vs -6.0 in December) after two months of increases. Also, the propensity to save jumped to its highest since June 2008 (18.7 vs 13.7), as concerns over a possible inflation resurgence and political uncertainty around pension reforms weighed on sentiment. Income expectations fell for a third month (-6.9 vs -0.1), underscoring ongoing pressure on household finances. By contrast, economic expectations turned positive (1.2 vs -1.1), hinting at cautious optimism about the broader outlook. Rolf Buerkl, head of consumer climate at NIM, warned the deterioration casts a shadow over the final phase of the Christmas shopping season and risks a “false start” for consumer sentiment in 2026.
2025-12-19