Overview

• The GfK/NIM consumer climate indicator for October rose 1.2 points to −22.3 after three monthly declines.
• Income expectations jumped from 4 to 15 points, fully reversing the prior month’s drop, according to NIM’s Rolf Bürkl.
• Consumers’ willingness to buy fell by 1.5 points to −11.6, the lowest since June 2024, with high food and energy prices and geopolitical uncertainty discouraging major purchases.
• Economic expectations slid 4.1 points to −1.4, the weakest reading since January 2025, and researchers do not anticipate a broad recovery.
• The findings are based on interviews conducted September 4–8, and overall sentiment remains very low with no clear sign of a sustained turning point.