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. source: GfK Group

Consumer Confidence in Germany decreased to -29.60 points in August from -29.30 points in July of 2026. Consumer Confidence in Germany averaged -0.22 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 July of 2026.

Consumer Confidence in Germany decreased to -29.60 points in August from -29.30 points in July of 2026. Consumer Confidence in Germany is expected to be -30.00 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
2026-06-25 06:00 AM
GfK Consumer Confidence
Jul -29.2 -29.7 -27.6 -29
2026-07-24 06:00 AM
GfK Consumer Confidence
Aug -29.6 -29.3 -28.5 -29
2026-08-27 06:00 AM
GfK Consumer Confidence
Sep -29.6 -30


Related Last Previous Unit Reference
Bank Interest Rate 4.08 4.02 percent May 2026
GfK Consumer Confidence -29.60 -29.30 points Aug 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 2.15 2.33 USD/Liter Jun 2026
Households Debt to GDP 48.90 49.10 percent of GDP Dec 2025
Households Debt to Income 75.29 77.75 percent Dec 2024
Personal Savings 10.10 10.30 percent Mar 2026
Private Sector Credit 3920100.00 3912100.00 EUR Million Apr 2026
Retail Sales MoM 1.10 -0.40 percent May 2026
Retail Sales YoY 1.80 -0.60 percent May 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
-29.60 -29.30 16.80 -42.80 2001 - 2026 points Monthly
SA

News Stream
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
German Consumer Confidence Edges Higher
Germany’s GfK Consumer Climate Indicator edged up to -29.2 heading into July 2026 from a revised -29.7 in June, marking a smaller improvement than the expected -27.6. Rolf Bürkl, Head of Consumer Climate at NIM, noted that consumer sentiment is currently stabilizing at a low level. Income expectations recovered slightly, rising by 0.8 points to -12.2, although consumers remained less optimistic about their future finances than before the Iran conflict. Economic expectations also improved, increasing by 2.5 points to -8.7, suggesting that pessimism eased despite most consumers still anticipating weaker conditions over the next 12 months. Meanwhile, willingness to buy slipped to -13.4 from -13.2, indicating that consumers still view the timing for major purchases as unfavorable. The propensity to save was unchanged at 13.9, remaining historically elevated, while price expectations fell by 2.5 points to -2.9, supported by easing geopolitical tensions and lower crude oil prices.
2026-06-25
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