The GfK consumer sentiment indicator for Germany edged down to 9.6 heading into January 2020, missing market expectations of 9.8 and matching the November reading which was the lowest since November 2016. The gauge measuring economic expectations dropped 6.1 points to -4.4, far below the long term average of 0, as Germans were less optimistic about the growth outlook. Also, the indicator measuring income expectations fell 10.5 points to 35.0, the lowest since October 2013, amid fears of more job cuts in some industrial sectors, mainly in the car industry and its suppliers. Meanwhile, the willingness to buy went up 2.2 points to 52.2.
Consumer Confidence in Germany averaged 6.39 points from 2001 until 2020, reaching an all time high of 16.80 points in March of 2001 and a record low of -3.50 points in March of 2003. 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. source: GfK Group
Consumer Confidence in Germany is expected to be 9.70 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 9.20 in 12 months time. In the long-term, the Germany GfK Consumer Climate is projected to trend around 8.50 points in 2020, according to our econometric models.