Germany's consumer climate indicator, published by the Nuremberg Institute for Market Decisions and GfK, fell to -30.6 heading into October 2026 from a revised -26.8 in September, reaching its weakest level since May. The reading undershot a -27.2 forecast from economists surveyed by The Wall Street Journal and a -27.4 Reuters poll. Rising energy prices weakened households' income outlook and purchasing power, with NIM consumer-climate head Rolf Buerkl saying most households expected higher energy costs to reduce their spending power. Income expectations fell 16.7 points to -15.0, their lowest level since April 2026. Willingness to save rose 6 points to 21.5, the highest level since the 2008 financial crisis, particularly among wealthier households, while willingness to buy slipped 1 point to -10.8. Economic expectations improved 0.5 points to -3.4 for a fifth consecutive increase as Germany's economy performed better than expected in the first half of 2026. The survey was conducted from September 3 to 14 among about 2,000 consumers.