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, according to the Nuremberg Institute for Market Decisions and GfK market research institute, missing the-27.4 average analyst estimate.
- Rising energy prices soured households' income outlook, prompting the sharp decline. Rolf Buerkl, head of consumer climate at NIM, said "high energy prices will diminish their purchasing power."
- Income expectations slumped to-15.0, its lowest level since April 2026, while willingness to buy edged down to-10.8. Households' willingness to save jumped to 21.5, the highest since 2008.
- Economic expectations rose half a point to-3.4, marking a fifth consecutive increase, as Germany's economy performed better than expected in the first half of 2026.
- The survey, based on around 2,000 consumer interviews conducted September 3-14, is designed to forecast behavior for the following month. Current readings remain below zero, indicating projected consumption decline.
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29 Articles
The German citizens' tendency to save has increased in September. Consumer researchers mainly attribute this to the high energy prices.
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The German citizens' tendency to save has increased in September. Consumer researchers mainly attribute this to the high energy prices.
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