GfK Consumer Climate (Germany) in Germany

GfK · Monthly · Importance

-26.6 (Sep-26) ABS · points · Monthly · CSV

Period	points
Sep 2026	-26.6
Aug 2026	-29.6
Jul 2026	-29.2
Jun 2026	-29.8
May 2026	-33.3
Apr 2026	-28.0
Feb 2026	-24.1
Dec 2025	-23.2
Nov 2025	-24.1
Oct 2025	-22.3
Sep 2025	-23.6
Aug 2025	-21.5
Jul 2025	-20.3
Jun 2025	-19.9
May 2025	-20.6
Apr 2025	-24.5
Mar 2025	-24.7
Feb 2025	-22.4
Jan 2025	-21.3
Nov 2024	-18.3
Sep 2024	-22.0
Aug 2024	-18.4
Jul 2024	-21.8
May 2024	-24.2
Apr 2024	-27.4
Feb 2024	-29.7
Jan 2024	-25.1

Period	points
Nov 2025	-1.8

Period	points
Sep 2026	-3.0
Aug 2026	-8.1
Jul 2026	-8.9
Jun 2026	-9.9
May 2026	-12.7
Apr 2026	-3.5
Feb 2026	-1.7
Nov 2025	-5.8
Sep 2025	-1.6
Aug 2025	-3.1
Jul 2025	1.5
May 2025	3.6
Apr 2025	2.9
Feb 2025	7.3
Jan 2025	3.8

About this indicator

Source

NIM / GfK (nim.org)

Frequency

Monthly

Release

Last week of the month, around the 24th-28th, 08:00 Berlin time (the reading is the expected climate for the FOLLOWING month)

What it is

The GfK Consumer Climate (now 'NIM Consumer Climate powered by GfK', published by the Nuremberg Institute for Market Decisions with NIQ/GfK) measures the sentiment of German households in index points. It is forward-looking: the reading released late in the month gives the climate forecast for the month ahead.

How it's calculated

It blends income expectations, willingness to buy and propensity to save from a monthly survey of around 2,000 consumers; the historical panel dates back to 1980.

Market implications

It is a leading indicator of German private consumption: deeply negative readings point to households in saving mode, while sustained recoveries flag improving spending and support growth.

Limitations

The previous month's figure is revised slightly with each release. It is a sentiment survey, not a measure of spending actually carried out.