In August of this year, the consumer mood in Germany did not present a uniform picture. While economic expectations improved, income expectations and the propensity to buy declined a bit. GfK forecasts a slight decrease in consumer climate for September of 0.1 points in comparison to the previous month to 10.5 points.

Despite turbulent political times throughout the world, economic expectations - at least initially - have stopped their multi-month downswing and have increased noticeably. The income outlook is dropping, however, and propensity to buy has declined somewhat. Both indicators still show an overall good level. Since the propensity to save remained almost unchanged this month, the consumer mood has regressed slightly.