At the end of the year, the buying mood in Germany is worse than it has been for months.
The consumer climate of the Nuremberg research institutes GfK and NIM predicts a significant decline of 3.5 points to -26.9 points for January compared to the previous month. Accordingly, consumers are increasingly concerned about their income and want to save more.
The propensity to save climbed to 18.7 points in December, the highest level since the financial and economic crisis, said NIM consumer expert Rolf Bürkl. “This is not positive news for the final spurt in this year’s Christmas business and at the same time can be seen as a false start for consumer sentiment in 2026.”
Larger purchases are no longer necessary
The research institutes survey consumers monthly about their mood, including their income expectations for the next twelve months. In December, this indicator fell for the third time in a row: to -6.9 points. According to experts, fears of inflation that have recently risen could be responsible for this.
This also affects planned purchases that are postponed or canceled entirely. Citizens’ propensity to buy fell by 1.5 points to -7.5 points in December compared to November.
In a longer-term comparison, the consumer climate continues to show weak values. Before the corona pandemic, the indicator was stable in positive territory.