berlin sept 28 reuters  german consumer morale is projected to nosedive further in october hitting a new record low for the fourth consecutive month as high inflation rates and rocketing energy bills show no signs of relenting a survey showed on wednesday the gfk institute said its consumer sentiment index fell to 425 heading into october from a downwardly revised reading of 368 in september analysts polled by reuters had predicted a reading of 390 income expectations in particular contributed to the plunge in morale that subindex was at its lowest level since the survey began collecting data for unified germany in 1991 any recovery in consumer sentiment would be tied to getting inflation under control which is not foreseeable at the moment gfk said adding that difficult months lay ahead consumer inflation rose 88 on the year in august and analysts polled by reuters currently expect septembers rate to reach 10 the statistics office is set to release preliminary numbers on thursday many households are currently forced to spend significantly more money on energy or set aside for significantly higher heating bills which leaves less money available for making new purchases said gfk consumer expert rolf buerkl that negative real consumer spending in turn exacerbates the economys recessionary tendencies even further said gfk an increasing number of consumers fear the german economy could slide into a recession with economic expectations around the same low levels as seen during the financial crisis note  the survey period was from sept 112 2022 the consumer climate indicator forecasts the development of real private consumption in the following month an indicator reading above zero signals yearonyear growth in private consumption a value below zero indicates a drop compared with the same period a year earlier according to gfk a onepoint change in the indicator corresponds to a yearonyear change of 01 in private consumption the willingness to buy indicator represents the balance between positive and negative responses to the question do you think now is a good time to buy major items the income expectations subindex reflects expectations about the development of household finances in the coming 12 months the additional business cycle expectations index reflects the assessment of those questioned of the general economic situation in the next 12 months reporting by miranda murray editing by rachel more and catherine evans