Germany’s GfK Consumer Climate Index is forecast to rise to -22.3 in October 2025, up from  -23.5 in September, ending a three-month decline, driven by a rebound in income expectations.

• Income expectations rose sharply to 15.1 (Aug: 4.1), the highest since early 2025, offsetting last month’s drop and providing the main lift to the headline index.

• Economic expectations fell -4.1 pts to -1.4, the lowest since January 2025, marking the third straight monthly decline and signaling weak confidence in economic recovery.

• Willingness to buy slipped -1.5 pts to -11.6, the lowest since June 2024, as high food and energy prices and geopolitical concerns limited consumer spending appetite.

• Willingness to save edged up slightly to 16.1 (Aug: 15.8), remaining elevated and reflecting ongoing caution in household finances.

• Compared with September 2024, income expectations improved (Sep 2024: 10.1), but both willingness to buy (-6.9 then vs -11.6 now) and overall consumer climate (-21.9 then vs -22.3 now) are weaker, highlighting persistent headwinds.