The GfK Consumer Climate Indicator in Germany dropped to a six-month low of -7.3 heading into January 2021, from a revised -6.8 in the prior month but above market consensus of -8.8, as sentiment was hit by stricter restrictive measures to curb the rapid spread of coronavirus. The income expectations sub-index declined 1 point to 3.6, while the gauge for economic outlook rose 4.6 points to 4.4 and the willingness to buy indicator increased 6.1 points to 36.6. "There is reason to fear that the consumer climate is about to enter a very difficult phase in the coming weeks. Any relaxation or recovery can certainly only come when the infection rates have dropped so far that the strict restrictions can be loosened once more", GfK consumer expert Rolf Buerkl said. source: GfK Group

Consumer Confidence in Germany averaged 5.85 points from 2001 until 2021, reaching an all time high of 16.80 points in March of 2001 and a record low of -23.10 points in May of 2020. 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 January of 2021.

Consumer Confidence in Germany is expected to be -6.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Germany to stand at 5.10 in 12 months time. In the long-term, the Germany GfK Consumer Climate is projected to trend around 6.40 points in 2021 and 7.50 points in 2022, according to our econometric models.

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Germany GfK Consumer Climate

Actual Previous Highest Lowest Dates Unit Frequency
-7.30 -6.80 16.80 -23.10 2001 - 2021 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-23 06:00 AM Oct -1.6 -1.7 -1 -3
2020-10-22 06:00 AM Nov -3.1 -1.7 -2.8 -3
2020-11-26 07:00 AM Dec -6.7 -3.2 -5 -2
2020-12-22 07:00 AM Jan -7.3 -6.8 -8.8 -9.2
2021-01-27 07:00 AM Feb -7.3 -1
2021-02-25 07:00 AM Mar
2021-03-25 07:00 AM Apr
2021-04-20 06:00 AM May


News Stream
German Consumer Morale Falls to 6-Month Low
The GfK Consumer Climate Indicator in Germany dropped to a six-month low of -7.3 heading into January 2021, from a revised -6.8 in the prior month but above market consensus of -8.8, as sentiment was hit by stricter restrictive measures to curb the rapid spread of coronavirus. The income expectations sub-index declined 1 point to 3.6, while the gauge for economic outlook rose 4.6 points to 4.4 and the willingness to buy indicator increased 6.1 points to 36.6. "There is reason to fear that the consumer climate is about to enter a very difficult phase in the coming weeks. Any relaxation or recovery can certainly only come when the infection rates have dropped so far that the strict restrictions can be loosened once more", GfK consumer expert Rolf Buerkl said.
2020-12-22
German Consumer Morale Weakest in 5 Months
The GfK Consumer Climate Indicator in Germany dropped to a five-month low of -6.7 heading into December 2020, from a revised -3.2 in the prior month and below market consensus of -5, as sentiment was hit by a partial lockdown to curb a second coronavirus wave. The gauge for economic outlook fell 7.3 points to -0.2, the lowest figure since May of this year when it stood at -10.4. Also, the income expectations sub-index declined 5.2 points to 4.6, and the willingness to buy indicator dropped 6.5 points to 30.5. "How the infection rate develops in the coming weeks will play a decisive role in determining whether the consumer climate will be able to stabilize again. Only a significant decrease in the number of infections and an easing of restrictions will restore a more optimistic outlook", GfK consumer expert Rolf Buerkl said.
2020-11-26
German Consumer Morale Deteriorates
The GfK Consumer Climate Indicator in Germany fell to -3.1 heading into November 2020 from a revised -1.7 in the prior month and missing market consensus of -2.8. This was the weakest reading since July, amid fears over another lockdown following a resurgence of COVID-19 cases in the country. The gauge for economic outlook tumbled 17 points to 7.1, the income expectations sub-index fell 6.3 points to 9.8, and the willingness to buy indicator dropped 1.4 points to 37. "Consumers apparently assume that the much more active infection process in Germany will slow down the previously hoped for rapid recovery of the German economy," said GfK consumer expert Rolf Buerkl.
2020-10-22
German Consumer Morale Little-Changed
The GfK Consumer Climate Indicator in Germany stood at -1.6 heading into October 2020, compared to a marginally revised -1.7 in the prior month and missing market consensus of -1, amid growing risk of another round of COVID-19 lockdown measures. The gauge for economic outlook jumped 12.4 points to 24.1 and the income expectations sub-index gained 3.3 points to 16.1. Meantime, the willingness to buy indicator dropped 5.3 points to 38.4.
2020-09-23

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.