The forward-looking GfK consumer confidence indicator for November rose to 6.3 points from a revised 6.1 points recorded in October (previously reported: 5.9 points). The reading exceeded market expectations, which had seen the index remaining unchanged at the original 5.9 points reported in October. The November result represents, in fact, the highest level in the index since October 2007, as rising concerns among consumers that the economy would enter into recession appear to be diminishing. While the overall consumer climate indicator refers to November, its sub-indicators refer to October. The economic expectations sub-index improved modestly over the previous month, as households appear to be less concerned that the economy would enter into recession. In addition, consumers' income expectations improved in October, after the sub-indicator fell for three consecutive months. Finally, consumers' willingness to buy increased compared to the previous month, on the back of households' rising wages and the healthy state of the German labour market. In September, unemployment dropped to 6.5% from 6.8% in August, which represents the lowest level in more than two decades.
Germany Consumer Confidence
Consumer confidence rises to five-year high
October 26, 2012
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Germany Consumer Confidence Chart
Note: GfK Consumer Confidence Index.
Source: The GfK Group.
Germany Economic News
October 10, 2016
The seasonally- and calendar-adjusted trade surplus increased from EUR 19.4 billion in July to EUR 22.2 billion in August, driven up by recovering exports.
October 7, 2016
In August, industrial production rose 2.5% from the previous month in seasonally-adjusted terms, in contrast to July’s large 1.6% drop, which had been the lowest reading in nearly two years.
September 29, 2016
Consumer prices in September rose 0.1% in a month-on-month comparison, according to preliminary data released by the Federal Statistics Office (Destatis) on 29 September.
September 28, 2016
Heading into October, the mood among German consumers weakened slightly but still stayed at a high level.
September 26, 2016
German businesses turned much more optimistic in September.