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Consumer sentiment declines amid energy costs and inflation
Consumer sentiment is declining across major economies due to rising energy costs and inflation concerns. In Germany, the NIM and GfK consumer climate index fell to -30.6 points for October, a significant setback driven by a sharp drop in income expectations, which reached their lowest level since April. Concurrently, the propensity to save has surged to 21.5, a level not seen since the 2008 financial crisis, as households attempt to compensate for lost purchasing power.
In Austria, consumer behavior has shifted significantly, with shopping volumes decreasing by 4.6% in the first half of 2026. Consumers are increasingly price-sensitive, with over one-third of retail spending now directed toward promotional products. Despite this, the share of organic products in retail has risen to an all-time high of 12.6%.
In the United States, the University of Michigan’s consumer sentiment fell to 48.1 in September, a four-month low. This decline is attributed to rising fuel prices and renewed inflation fears, with one-year inflation expectations jumping to 4.6%. The downturn has been observed across the political spectrum, including a notable decline in sentiment among Republicans.
Entities
AMA-Marketing · Austria · GFK · Germany · NIM · Nürnberger Institute NIM · Rolf Bürkl · United States · University of Michigan · YouGov
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 6 SOURCES] Economic expectations have risen for five consecutive months. www.allgaeuer-zeitung.de · www.fehmarn24.de · www.onetz.de · www.actionforex.com · www.ad-hoc-news.de
- [● 8 SOURCES] Income expectations in Germany reached their lowest point since April. www.allgaeuer-zeitung.de · www.fehmarn24.de · www.onetz.de · www.actionforex.com · www.ad-hoc-news.de · +2 more
- [● 7 SOURCES] The propensity to save in Germany has reached levels not seen since the 2008 financial crisis. www.allgaeuer-zeitung.de · www.fehmarn24.de · www.onetz.de · www.actionforex.com · www.ad-hoc-news.de · +1 more
- [○ 1 SOURCE] The share of organic products in Austrian retail rose from 11.9% to 12.6%. medianet.at
- [● 7 SOURCES] High energy prices are expected to reduce household purchasing power. www.allgaeuer-zeitung.de · www.fehmarn24.de · www.onetz.de · www.actionforex.com · www.ad-hoc-news.de · +1 more
- [○ 1 SOURCE] More than one in three euros spent in Austria is now directed toward promotional products. medianet.at
- [● 6 SOURCES] The German consumer climate declined in September. www.allgaeuer-zeitung.de · www.fehmarn24.de · www.onetz.de · www.actionforex.com · www.ad-hoc-news.de
- [○ 1 SOURCE] Austrian shopping volumes decreased by 4.6% in the first half of 2026 compared to the previous year. medianet.at