German consumer sentiment improved for a fourth consecutive month in August, according to a survey published on Thursday, as economic and income expectations strengthened despite persistent caution over spending.
The Nuremberg Institute for Market Decisions (NIM) and GfK reported the consumer sentiment index at -26.6 points for September 2026, up from a revised -29.4 points in August and exceeding the Reuters poll average of -29.6 points. The reading remains below the -23.5 points recorded in September 2025, indicating a still subdued outlook compared with a year earlier.
Economic expectations rose to -3.9 points in August from -6.3 points in July, while income expectations improved to 1.7 points from -14.5 points in the prior month. Willingness to buy remained nearly flat at -9.8 points, compared with -9.9 points in July. Willingness to save edged lower to 15.5 points from 17.0 points in July.
NIM’s head of consumer climate, Rolf Buerkl, noted that while the late-summer economic outlook remains more than six points below the prior year’s level, the fourth consecutive monthly increase suggests a modest upward trend. The survey, conducted between July 30 and August 10, reflects respondents’ assessments of the general economic situation and household finances over the coming 12 months.
The consumer climate index uses a threshold of zero to signal year-on-year growth in private consumption, with each one-point change equating to a 0.1% year-on-year shift in spending, according to NIM. The data underscores a cautious but gradually improving consumer mood amid ongoing economic uncertainty.
