Germany Consumer Confidence

Last Release

Oct 31, 2023

Actual

-26.5

Units In

Points

-25.6

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
16.8 Mar 2001	-42.8 Oct 2022	2.79 Points	2001-2023	GfK Group

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.

Latest Updates

The GfK Consumer Climate Indicator for Germany fell to -26.5 heading into October from a revised -25.6 in September, missing market forecast of -26.0. It was the lowest reading since April as the propensity to save climbed to hit its highest level since April 2011 (8.0 vs 0.5 in September) while the gauge for income expectations (-11.3 vs -11.5) and the propensity to buy (-16.4 vs -17.0) remained weak. Meantime, the economic sentiment sub-index gained slightly (-3.4 vs -6.2). The latest result suggested that a recovery in consumer sentiment this year is unlikely amid persistently high inflation. “The chances that consumer sentiment can sustainably recover before the end of this year are dwindling more and more," said Rolf Bürkl, GfK consumer expert. "Private consumption will therefore not make a positive contribution to overall economic development this year.”