German consumer confidence rises slightly, but spending remains cautious

A glimmer of hope emerges in Germany’s economic outlook—but will it last? New data reveals shifting priorities among households.

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2026 January 12 . 11:46 AM

1 min read

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Consumer Mood Slightly Improved at the Start of the Year - German consumer confidence rises slightly, but spending remains cautious

Consumer confidence in Germany has shown a slight improvement at the start of the year. The latest data, published by the Nürnberg Institut für Marktentscheidungen (NIM) in partnership with GfK, reveals a modest rise in optimism among households. This comes as people assess their financial outlook more positively than in previous months.

The consumer confidence index edged up from 95.24 to 95.54 points in January. This increase reflects a more hopeful view of economic trends, with expectations now higher than they were a year ago. The barometer is based on monthly surveys of around 1,600 people across Germany.

Despite the improved sentiment, consumers appear cautious about spending. The willingness to make major purchases fell compared to December. Instead, the inclination to save grew, suggesting households are prioritising financial security over immediate consumption. The NIM and GfK will release the next set of figures for February on the 25th of that month. Their findings continue to track shifts in economic expectations, income outlook, and spending behaviour among German consumers.

The latest figures indicate a mixed picture for the German economy. While optimism about income and economic conditions has risen, the focus on saving rather than spending suggests limited growth in private consumption. The next update in late February will show whether this trend continues.