Germany’s GfK Consumer Climate Indicator rose to -29.3 heading into June 2026 from a revised -33.1 in May, defying expectations of a further deterioration to -34. The improvement was driven mainly by a rebound in income expectations, which rose sharply by 11.4 points to -13.0, supported by the Middle East conflict not having escalated further yet and expectations of potential government relief measures. Economic expectations also improved slightly to -11.2 from -13.7, although most consumers still anticipate weaker economic conditions over the next 12 months. Meanwhile, willingness to buy edged higher to -13.2 from -14.4 but remained subdued, signaling continued caution toward major purchases. The propensity to save declined for a third consecutive month to 13.9 from 16.1, though it remained elevated by historical standards. Inflation concerns also eased, with price expectations falling to -0.4 from 5.8, partly due to reductions in energy taxes on diesel and gasoline. source: GfK Group

Consumer Confidence in Germany increased to -29.80 points in June from -33.10 points in May of 2026. Consumer Confidence in Germany averaged -0.03 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 May of 2026.

Consumer Confidence in Germany increased to -29.80 points in June from -33.10 points in May of 2026. Consumer Confidence in Germany is expected to be -34.00 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
2026-04-27 06:00 AM
GfK Consumer Confidence
May -33.3 -28.1 -29.5 -30
2026-05-22 06:00 AM
GfK Consumer Confidence
Jun -29.8 -33.1 -34 -34
2026-06-25 06:00 AM
GfK Consumer Confidence
Jul -29.8


Related Last Previous Unit Reference
Bank Interest Rate 3.98 3.95 percent Mar 2026
GfK Consumer Confidence -29.80 -33.10 points Jun 2026
Consumer Credit 236859.00 237345.00 EUR Million Mar 2026
Consumer Spending 483.20 483.02 EUR Billion Mar 2026
Disposable Personal Income 673.65 670.87 EUR Billion Mar 2026
Gasoline Prices 2.33 2.51 USD/Liter May 2026
Households Debt to GDP 49.10 49.20 percent of GDP Sep 2025
Households Debt to Income 75.29 77.75 percent Dec 2024
Personal Savings 10.10 10.30 percent Mar 2026
Private Sector Credit 3912200.00 3901400.00 EUR Million Mar 2026
Retail Sales MoM -2.00 -0.30 percent Mar 2026
Retail Sales YoY -2.00 0.70 percent Mar 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
-29.80 -33.10 16.80 -42.80 2001 - 2026 points Monthly
SA

News Stream
German Consumer Morale Improves
Germany’s GfK Consumer Climate Indicator rose to -29.3 heading into June 2026 from a revised -33.1 in May, defying expectations of a further deterioration to -34. The improvement was driven mainly by a rebound in income expectations, which rose sharply by 11.4 points to -13.0, supported by the Middle East conflict not having escalated further yet and expectations of potential government relief measures. Economic expectations also improved slightly to -11.2 from -13.7, although most consumers still anticipate weaker economic conditions over the next 12 months. Meanwhile, willingness to buy edged higher to -13.2 from -14.4 but remained subdued, signaling continued caution toward major purchases. The propensity to save declined for a third consecutive month to 13.9 from 16.1, though it remained elevated by historical standards. Inflation concerns also eased, with price expectations falling to -0.4 from 5.8, partly due to reductions in energy taxes on diesel and gasoline.
2026-05-22
German Consumer Morale Hits Three-Year Low
Germany’s GfK Consumer Climate Indicator dropped to –33.3 heading into May 2026, from a marginally revised –28.1 in April, marking the weakest level since February 2023. The decline reflects mounting pressure on households as rising energy prices push inflation higher and are expected to climb further if the Iran conflict persists. Income expectations plunged sharply to –24.4 (from –6.3 in April), while economic expectations also deteriorated to –13.7 (from –6.9), nearing levels seen at the onset of the Ukraine war in 2022. Consumer concerns are rising that Germany’s fragile economic recovery could face a significant setback if the conflict continues and policy measures prove ineffective. Meanwhile, willingness to buy fell to a two-year low of –14.4 (from –10.9), highlighting subdued consumption, while the propensity to save, though lower, remained elevated at 16.1 (from 18.5), signaling continued caution among consumers.
2026-04-27
German Consumer Morale Weakest in Two Years
Germany’s GfK Consumer Climate Indicator dropped to –28 heading into April 2026, from a marginally revised –24.8 in the previous period, and coming in worse than market expectations of –26.5. This is the weakest reading since March 2024, as households brace for a surge in energy costs linked to the Iran conflict, which could fuel inflation. Economic expectations deteriorated sharply to –6.9 (from 4.3 in March), as consumers worry that the German economy’s slow recovery could be derailed if the conflict persists. Income expectations also slid into negative territory at –6.3 (vs 6.3), reflecting concerns that rising energy costs may erode purchasing power. The willingness to buy declined further to –10.9 (vs –9.3), signaling subdued consumption, while the propensity to save remained elevated at 18.5 (vs 18.9), underscoring continued caution among households.
2026-03-26