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. source: GfK Group

Consumer Confidence in Germany increased to -24.10 points in February from -26.90 points in January of 2026. Consumer Confidence in Germany averaged 0.35 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 February of 2026.

Consumer Confidence in Germany increased to -24.10 points in February from -26.90 points in January of 2026. Consumer Confidence in Germany is expected to be -25.00 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 -14.00 points in 2027 and -10.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-19 07:00 AM
GfK Consumer Confidence
Jan -26.9 -23.4 -23.2 -23
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 -24.1 -25


Related Last Previous Unit Reference
Bank Interest Rate 3.97 3.94 percent Dec 2025
GfK Consumer Confidence -24.10 -26.90 points Feb 2026
Consumer Credit 238008.00 236072.00 EUR Million Sep 2025
Consumer Spending 478.54 479.76 EUR Billion Sep 2025
Disposable Personal Income 663.91 656.79 EUR Billion Sep 2025
Gasoline Prices 2.19 2.05 USD/Liter Jan 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 10.70 10.20 percent Sep 2025
Private Sector Credit 3880700.00 3856500.00 EUR Million Nov 2025
Retail Sales MoM 0.10 -0.50 percent Dec 2025
Retail Sales YoY 1.50 1.30 percent Dec 2025


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
-24.10 -26.90 16.80 -42.80 2001 - 2026 points Monthly
SA

News Stream
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
German Consumer Morale Improves Slightly
Germany’s GfK Consumer Climate Indicator rose to -23.2 heading into December 2025 from -24.1 in the previous period, in line with market expectations. Buying willingness strengthened for the second consecutive month ahead of the holiday season (-6.0 vs -9.3 in November), returning to its level from a year earlier, while the willingness to save softened (13.7 vs 15.8). However, economic expectations slipped into slight pessimism (-1.1 vs 0.8), though they remained higher than a year ago, and income expectations turned negative (-0.1 vs 2.3), signaling persistent pressure on household finances. Consumer sentiment is now almost identical to last year’s level, which is an encouraging sign for retailers as it suggests stable Christmas sales, according to Rolf Buerkl, head of consumer climate at NIM. Still, he noted that while sentiment shows resilience, consumers do not anticipate a significant near-term recovery.
2025-11-27