German consumer sentiment falls further in November

The Gfk survey released on Tuesday showed that consumer sentiment in Germany is expected to deteriorate further heading into November, weighed down by sharply declining income expectations, a survey showed on Tuesday.

GfK consumer sentiment index fell to -24.1 points for November from a downwardly revised -22.5 points in October, missing economists’ expectations  -22.0 decline.

The drop was driven primarily by a decline in income expectations, which lost nearly 13 points to reach 2.3 points – the lowest level since March 2025 that erased the strong gains seen in the previous month.

The ongoing geopolitical tensions, renewed inflation fears and growing concerns about job security continued to diminish hopes for a short-term recovery in consumer sentiment and darken the outlook.