The GfK Consumer Climate Indicator in Germany rose to 0.3 heading into October of 2021 from an upwardly revised -1.1 in September and beating market forecasts of -1.6. It is the highest reading since April of 2020 and closer to pre-pandemic levels, as both economic and income expectations improved and the propensity to buy rose slightly. The number of coronavirus infections is falling significantly and consumers believe the fourth wave of the pandemic will be less pronounced than many feared, leaving space for a further relaxation of restrictions again. Despite the rebound in consumer sentiment, GfK analysts consider it's too early to talk about a fundamental trend shift. source: GfK Group

Consumer Confidence in Germany averaged 5.44 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 October of 2021.

Consumer Confidence in Germany is expected to be -1.60 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 7.50 points in 2022 and 5.10 points in 2023, according to our econometric models.

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Germany GfK Consumer Climate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-26 06:00 AM Sep -1.2 -0.4 -0.7 -1.6
2021-09-28 06:00 AM Oct 0.3 -1.1 -1.6 -1.5
2021-10-27 06:00 AM Nov 0.3 -0.5 -1


News Stream
Germany Consumer Confidence Rebounds
The GfK Consumer Climate Indicator in Germany rose to 0.3 heading into October of 2021 from an upwardly revised -1.1 in September and beating market forecasts of -1.6. It is the highest reading since April of 2020 and closer to pre-pandemic levels, as both economic and income expectations improved and the propensity to buy rose slightly. The number of coronavirus infections is falling significantly and consumers believe the fourth wave of the pandemic will be less pronounced than many feared, leaving space for a further relaxation of restrictions again. Despite the rebound in consumer sentiment, GfK analysts consider it's too early to talk about a fundamental trend shift.
2021-09-28
German Consumer Morale Drops More than Forecast
The GfK Consumer Climate Indicator in Germany decreased to -1.2 heading into September 2021, from a revised -0.4 in the previous month and below market expectations of -0.7. It was the lowest level in three months, amid growing inflationary pressure and rising COVID-19 cases. The gauge for willingness to buy declined 4.5 points to 10.3, while the business cycle expectations sub-index fell 13.8 points to 40.8. Meanwhile, the income expectations sub-index was 1.5 points higher at 30.5.
2021-08-26
Germany Consumer Climate Below Forecasts
The GfK Consumer Climate Indicator for Germany was unchanged at -0.3 heading into August of 2021, remaining at 1-year high but well below market forecasts of 1. The indicator remains much below 10 level before the pandemic, as rising coronavirus infections and a stagnation of the vaccination progress weigh on consumers' mood. Economic and income expectations declined slightly and inflation is expected to rise while propensity to buy increased. However, "despite the current stagnation of consumer confidence, the domestic economy will make a positive contribution to overall economic development in the second half of the year" said Rolf Brkl, a GfK consumer expert.
2021-07-28

Germany Last Unit Reference Previous Highest Lowest
Consumer Confidence 0.30 points Oct/21 -1.10 16.80 -23.10


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.