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.