Germany Consumer Confidence

Last Release

Nov 30, 2024

Actual

-18.3

Units In

Points

-21

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
16.8 Mar 2001	-42.8 Oct 2022	1.57 Points	2001-2024	GfK Group

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.

Latest Updates

The GfK Consumer Climate Indicator for Germany rose to -18.3 heading into November 2024 from a marginally revised -21.0 in the previous period. It was the highest reading since April 2022, with sentiment improving for the second month and exceeding market expectations of -20.5. Income expectations strengthened (13.7 vs 10.1 in October) and the propensity to buy reached its highest level in near three years (-4.7 vs -6.9), both advancing for the second month running. In addition, the tendency to save declined slightly. However, economic prospects declined for the third month (0.2 vs 0.7), following a downward revision of economic growth this year. "Despite this improvement, the consumer climate remains very low," said Rolf Bürkl, a consumer expert at NIM. He noted that uncertainties from crises, wars, and high prices continue to curb consumption. Meanwhile, a rise in company insolvencies, plans for job cuts, and intentions to relocate production abroad also weigh on consumer sentiment.