Germany: Consumer Climate Weakest in 6 Months.

Germany's GfK Consumer Climate Indicator fell to -30.8 heading into November 2026 from -30.6 in October, slightly above expectations of -30.9. The reading marked its weakest level since May and remained well below -22.5 a year earlier. Persistent concerns over household finances and inflation continued to weigh on spending intentions despite improving economic sentiment. Income expectations edged down to -15.7 from -15.0, while willingness to buy fell to -11.9 from -10.8. Price expectations also moved further into positive territory, suggesting renewed inflation concerns after Germany's inflation rate rose to 3.3% in September, its highest since December 2023. Meanwhile, economic expectations rose to 2.1 from -3.4, turning positive for the first time since the outbreak of the Iran War and extending their recovery for a sixth consecutive month. Willingness to save eased to 17.2 from 21.5 but remained elevated.