Germany Consumer Confidence


Germany: Consumer confidence improves marginally

October 24, 2014

The mood among German consumers improved marginally in October, ending the downward trend that had been in place. The forward-looking consumer confidence indicator published by the GfK edged up from a revised 8.4 points in October (previously reported: 8.3 points) to 8.5 points for November. The print came in above the 8.0 points the markets had expected and reflects a small improvement after two consecutive drops. According to GfK, the print mirrors that, “consumers were evidently less affected by the continued problematic geopolitical situation and the resultant economic slowdown than they had been in the previous month.”

In addition to the overall consumer confidence indicator, which estimates consumer confidence in the coming month, the GfK elaborates on three sub-indicators, which refer to the previous month. In October, households’ income expectations and consumers’ willingness to buy improved, while households’ expectations for the overall economy remained virtually unchanged.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.1% this year, which is unchanged from last month’s estimate. For 2015, panelists see private consumption growing 1.5%, which is down 0.1 percentage points from last month’s projection.

Author: Teresa Kersting, Economist

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Germany Consumer Confidence Chart

Germany Consumer Confidence November 2014

Note: GfK Consumer Climate Index.
Source: The GfK Group.

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