The willingness to buy strengthened for the second consecutive month in November, gaining 3.3 points to -6.0 points, its second-highest level of the year. At the same time, the willingness to save fell by 2.1 points to 13.7 points, indicating a greater readiness among consumers to spend during the festive period. However, income expectations weakened again, preventing a stronger recovery in sentiment.
“With the stabilisation, the Consumer Climate is currently almost exactly at the previous year's level. This is also good news for the retail sector with regard to Christmas spending: the data indicate a stable business,” Rolf Burkl, head of Consumer Climate at NIM, said in a press release. He added that while sentiment appears steady, consumers still do not anticipate a significant near-term recovery.
Income expectations fell for the second month in a row in November 2025, though the drop of 2.4 points was milder than the almost 13-point decline seen in October 2025. The indicator now stands at -0.1 points, its lowest level since March 2025.
Conversely, buying sentiment improved, rising to the same level as in November 2024. Economic expectations softened slightly, dipping 1.9 points to -1.1 points, reflecting ongoing caution about the economic outlook. Still, the reading remains 2.5 points above last year’s level.
The Consumer Climate, a leading indicator of private consumption, is calculated from the November values for income expectations, willingness to buy and willingness to save, and serves as a projection of consumer behaviour for December 2025.
ALCHEMPro News Desk (KD)
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