German Consumer Confidence Slumps as Energy Costs Bite
Rising energy prices pushed households to save more and cut income expectations, while willingness to buy slipped to -10.8, the survey found.
- German consumer sentiment fell to-30.6 points heading into October, missing the-27.4 average estimate, according to the Nuremberg Institute for Market Decisions and GfK market research institute.
- Rising energy prices are dampening household income outlooks, with Rolf Buerkl, head of consumer climate at NIM, stating households expect high costs to "diminish their purchasing power."
- Income expectations slumped to-15.0, its lowest since April 2026, while willingness to buy edged down to-10.8. Conversely, households' willingness to save jumped to 21.5, its highest level since the 2008 financial crisis.
- Economic expectations rose half a point to-3.4, marking a fifth consecutive increase as Germany's economy performed better than expected during the first half of 2026.
- The survey was conducted September 3-14 based on around 2,000 consumer interviews and is designed to forecast behavior for the following month. Current readings remain below zero, indicating year-on-year contraction.
31 Articles
31 Articles
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