Excellent consumer sentiment will not continue unabated in September. Both income expectations and propensity to buy decreased. On the other hand, economic expectations increased slightly. GfK forecasts a decrease in consumer climate for October of 0.1 points in comparison to the previous month to 10.8 points.

However, consumers believe that the German economy's solid growth trend is set to continue in fall. Therefore, economic expectations will also increase after losses from the preceding month. In contrast, the previous five-month upswing in income expectations ceased in September. Propensity to buy also suffered due to the downturn. However, both measures remain at their current high levels so that a slight trend reversal downwards can be viewed more as a stabilization process.