Konjunktur: Konsumlaune in Deutschland verschlechtert sich erneut
Die Erwartungen hinsichtlich der Konjunktur sind gestiegen. Doch die Verbraucher geben weiterhin nicht mehr Geld aus. Auch der Tankrabatt kann nicht für Entspannung sorgen.
German consumer sentiment has again taken a downturn, reaching its lowest level since May, according to the latest November consumer climate barometer released on Wednesday. The figure fell by 0.2 points to minus 30.8, as reported by GfK market researchers and the Nürnberg Institute for Market Decisions (NIM). Economists quoted by Reuters had largely anticipated this decline.
"Consumers are increasingly optimistic about the economic development, but the skepticism concerning their own wallets remains stronger," commented NIM expert Rolf Bürkl. Growing inflation concerns and subdued expectations of income dampened the willingness for larger purchases, even though saving tendencies are slightly decreasing.
"The fuel rebate does not seem to provide the hoped-for relief," Bürkl explained: "The hope for an economic upturn is there, but the willingness to spend more money has not yet materialized." The mixed development of individual indicators shows that while consumer confidence has risen for the sixth time in a row and saving tendencies have moderately weakened, the willingness for purchases continues to slightly decrease.
Consumer expectations and the inclination to make larger purchases are also falling. "Consumer income expectations have again slightly deteriorated," said the market researchers. Economic uncertainty, not only due to geopolitical risks, and rising energy costs are hampering purchasing power and shopping mood. Data on price expectations signal that consumers are now more inclined to anticipate a slightly higher inflation rate.
The consumer researchers point out that the inflation rate rose to 3.3% in September due to rising fuel prices, marking the highest value since December 2023. Consumer sentiment has been regularly surveyed since 1974 and monthly since 1980. For the study, 2,000 consumer interviews were conducted between October 1st and 12th, 2026 on behalf of the EU Commission. More: The German economy is growing, but consumer frustration remains.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
