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. source: GfK Group

Consumer Confidence in Germany averaged 5.96 points from 2001 until 2020, 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 2020.

Consumer Confidence in Germany is expected to be -1.30 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
-3.10 -1.70 16.80 -23.10 2001 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-23 06:00 AM Aug -0.3 -9.4 -5 -4
2020-08-28 06:00 AM Sep -1.8 -0.2 1.2 2.5
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 -1.3
2020-12-22 07:00 AM Jan


News Stream
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
German Consumer Morale Unexpectedly Weakens
Consumer confidence in Germany dropped to -1.8 heading into September 2020 from a marginally revised -0.2 in the prior month and missing market consensus of 1.2, amid a resurgence in COVID-19 cases across the country and fears of another round of lockdown measures to slow down the spread of the disease. The gauge for income expectations fell by 5.8 points to 12.8, while the economic expectations index rose 1.1 points to 11.7 and the willingness to buy index went up 1.2 points to 43.7.
2020-08-28
German Consumer Morale Stronger than Forecast
The GfK consumer sentiment indicator for Germany rose to -0.3 heading into August 2020 from an upwardly revised -9.4 in the previous month and compared with market consensus of -5. This was the third straight month of improvement in consumer morale, still remaining well below pre-pandemic levels, boosted by a temporary reduction in value-added tax (VAT) as part of the stimulus package from the government to help the economy recover from the COVID-19 crisis. The gauge for income expectations went up 12 points to 18.6 and the index for willingness to buy jumped 23.1 points to 42.5. Also, the economic expectations index increased 2.1 points to 10.6, the highest since December 2018.
2020-07-23

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.