Propensity to save in Germany reaches its highest level since the 2008 financial crisis

Given the economic situation, people in Germany are currently increasingly inclined to save. This emerges from the latest study by the market research institutes NIM and GfK on the consumer climate. The propensity to save has risen sharply and has reached a level that has not been measured since the financial crisis of 2008. At the same time, income expectations have fallen significantly, the institutes announced as a result of their monthly survey. The willingness to spend more has also decreased slightly.

For the analysis, 2,000 consumer interviews were conducted between September 3rd and 14th, 2026 on behalf of the EU Commission.

Income expectations reached their lowest level since April. “The majority of households expect that high energy prices will reduce their purchasing power,” said NIM consumer expert Rolf Bürkl. "As a result, they are more skeptical about future income prospects for the next twelve months."

The tendency to save is particularly pronounced among people with more money

Market researchers explain the tendency to save with the high energy prices. These “fuel uncertainty among consumers and ensure that they currently consider it advisable to save in view of the general economic situation,” says the study. The propensity to save is particularly higher in households with better financial resources. There is obviously a need to compensate for the loss of purchasing power that has occurred in savings due to increased inflation through additional savings.