Macro EconomyMediumUpdated•Originally published 25 September 2026•Updated 25 September 2026•
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German Consumer Confidence Drops to -30.6 in October as Savings Index Hits 2008 High
Key Facts
1The GfK consumer confidence indicator in Germany dropped to its lowest level since May.
The German GfK consumer climate indicator for October fell to -30.6 points, significantly missing the expected -27.4 level. The willingness to save index jumped to 21.5, reaching its highest point since the 2008 global financial crisis.
ING reported that the decline contradicts resilience seen in other leading indicators, suggesting persistent pessimism among German households. Income expectations and the willingness to buy were pressured by labor market uncertainty and price concerns, reversing a slight rebound observed in previous months.