There has been a drastic downward spiral of economic expectations in Germany for the last 5 consecutive months. German consumers seem very pessimistic toward future economic developments. There has been a total drop of 35.4 points since May 2015, leaving economic expectations at -2.9 points in October 2015.
Income expectations have not seen comparatively high variations throughout the year so far, but there has been a slow decline since July 2015. However, the current income expectation is only 4.6 points below the average for the year.
The Willingness-to-buy indicator saw its last upswing in May of 2015, and has has been steadily regressing throughout the last six months. At 45.9 points as of October 2015, the willingness-to-buy indicator is 18.5 points below the all time high of 64.4 points in October 2006.
These findings are extracts from the “GfK Consumer Climate MAXX survey”, which is based on around 2,000 consumer interviews conducted each month (on a representative sample of the German population) on behalf of the European Commission. The report contains charts, forecasts and a detailed commentary regarding the indicators. In addition, the report includes information on proposed consumer spending in 20 different areas of the consumer goods and services markets. The GfK Consumer Climate survey has been conducted since 1980.