Germany's GfK Consumer Climate Indicator fell to -30.6 heading into October 2026 from a revised -26.8 in September, deteriorating more sharply than the expected decline to -27.4. This marked the weakest reading since May, driven primarily by a sharp deterioration in income expectations, which slumped 16.7 points to -15.0, their lowest level since April, as households increasingly feared that elevated energy prices would erode purchasing power. Willingness to save jumped 6 points to 21.5, its highest level since the 2008 financial crisis, while willingness to buy edged down 1 point to -10.8, remaining broadly around the -10 mark for more than three years. In contrast, economic expectations rose 0.5 points to -3.4, extending their improvement to a fifth consecutive month as Germany's economy performed better than expected in the first half of 2026. Price expectations edged down to -0.4 from -0.2. source: GfK Group

Consumer Confidence in Germany decreased to -30.60 points in October from -26.80 points in September of 2026. Consumer Confidence in Germany averaged -0.40 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 October of 2026.

Consumer Confidence in Germany decreased to -30.60 points in October from -26.80 points in September of 2026. Consumer Confidence in Germany is expected to be -29.50 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 -24.00 points in 2027 and -20.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-27 06:00 AM
GfK Consumer Confidence
Sep -26.6 -29.4 -29.6 -29.5
2026-09-25 06:00 AM
GfK Consumer Confidence
Oct -30.6 -26.8 -27.4 -27.4
2026-10-28 07:00 AM
GfK Consumer Confidence
Nov -30.6


Related Last Previous Unit Reference
Bank Interest Rate 4.26 4.18 percent Jul 2026
GfK Consumer Confidence -30.60 -26.80 points Oct 2026
Consumer Credit 238206.00 236858.00 EUR Million Jun 2026
Consumer Spending 498.40 497.77 EUR Billion Jun 2026
Disposable Personal Income 681.98 677.08 EUR Billion Jun 2026
Gasoline Prices 2.64 2.55 USD/Liter Sep 2026
Households Debt to GDP 47.90 48.20 percent of GDP Mar 2026
Households Debt to Income 74.52 75.29 percent Dec 2025
Personal Savings 10.10 10.10 percent Jun 2026
Private Sector Credit 3963900.00 3958200.00 EUR Million Jul 2026
Retail Sales MoM 1.30 -3.20 percent Aug 2026
Retail Sales YoY -0.40 -2.20 percent Aug 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
-30.60 -26.80 16.80 -42.80 2001 - 2026 points Monthly
SA

News Stream
German Consumer Mood Weakens More Than Expected
Germany's GfK Consumer Climate Indicator fell to -30.6 heading into October 2026 from a revised -26.8 in September, deteriorating more sharply than the expected decline to -27.4. This marked the weakest reading since May, driven primarily by a sharp deterioration in income expectations, which slumped 16.7 points to -15.0, their lowest level since April, as households increasingly feared that elevated energy prices would erode purchasing power. Willingness to save jumped 6 points to 21.5, its highest level since the 2008 financial crisis, while willingness to buy edged down 1 point to -10.8, remaining broadly around the -10 mark for more than three years. In contrast, economic expectations rose 0.5 points to -3.4, extending their improvement to a fifth consecutive month as Germany's economy performed better than expected in the first half of 2026. Price expectations edged down to -0.4 from -0.2.
2026-09-25
German Consumer Mood Unexpectedly Improves
Germany's GfK Consumer Climate Indicator rose to -26.6 heading into September 2026 from a revised -29.4 in August, marking its least pessimistic reading since March and beating forecasts for a decline to -29.6. The improvement was driven primarily by stronger income expectations, which jumped 16.2 points to 1.7, their highest level in six months, as consumers became more optimistic about their financial prospects. Economic expectations also improved for a fourth month, rising 2.4 points to -3.9, supported by Germany's economy growing 0.3% in Q2, above the initial 0.2% estimate, although they remained more than six points below the level a year earlier. Meanwhile, willingness to buy was virtually unchanged at -9.8, remaining around the -10-point mark for roughly four years and indicating continued reluctance toward major purchases. In contrast, willingness to save edged down 1.5 points to 15.5 but remained at a very high level. Price expectations also increased to 0.2 from -2.1.
2026-08-27
German Consumer Mood Unexpectedly Weakens
Germany's GfK Consumer Climate Indicator edged down to -29.6 heading into August 2026 from a revised -29.3 in July, remaining at a low level and missing expectations of an improvement to -28.5. The slight deterioration reflected weaker income expectations, which fell by 2.3 points to -14.5 as consumers became less optimistic about their financial outlook, while the propensity to save increased by 3.1 points to 17.0, remaining historically elevated as households stayed cautious amid persistent uncertainty. In contrast, willingness to buy rose by 3.5 points to -9.9, though it remained subdued, while economic expectations improved for a third consecutive month, rising by 2.4 points to -6.3. Nevertheless, most consumers still expected economic conditions to worsen over the next 12 months. Inflation concerns also increased, with the price expectations indicator rising by 0.8 points to -2.1 after the expiry of the fuel subsidy pushed fuel prices higher.
2026-07-24