Outstanding debt of German households
Outstanding debt of German households stood at 48.4 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Household financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Household financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | |||||||||||
| Debt | 48.4 | 48.7 | 48.9 | 49 | 49.1 | 49.4 | 49.5 | 49.6 | 49.9 | 50.3 | |
| Total liabilities | 2,180.1 | 2,176.6 | 2,167.6 | 2,151.3 | 2,140.5 | 2,136.4 | 2,131.9 | 2,123.5 | 2,120.3 | 2,122.7 |
Understanding outstanding debt of German households
Contracted loan obligations and formal borrowing arrangements owed by the household sector define this core liability aggregate. It brings together residential mortgages, consumer installment credit, revolving overdraft facilities, and any debt securities issued by private individuals and sole proprietors. The series excludes non-debt liabilities such as trade credits, unpaid tax balances, and accrued administrative bills. By focusing strictly on contractual liabilities that require interest servicing and principal repayment, it isolates the total volume of borrowed funds supplied by domestic and cross-border financial institutions.
Recorded figures reflect gross nominal balances at the end of each reporting quarter and do not incorporate seasonal adjustments. Comparing identical quarters across years is the standard analytical practice, as it strips out seasonal credit demand associated with holiday spending, tax cycles, and spring housing transaction patterns. Analysts must avoid confusing gross debt stocks with net indebtedness, which requires subtracting accumulated financial assets. Because early figures rely partly on provisional commercial bank returns, subsequent quarters frequently incorporate revisions when detailed balance sheet audits of credit institutions are finalized.
Frequently asked questions
- What types of liabilities are included in outstanding household debt?
- The aggregate includes housing mortgages, consumer loans, overdrafts, and any issued debt securities, while omitting non-debt liabilities like trade credit.
- Does this series measure household debt net of savings?
- No, it measures gross debt without deducting currency, deposits, or other financial assets held by households.
- Why should period-on-period changes be treated with caution?
- Short-term quarterly changes are subject to seasonal borrowing cycles and provisional banking reports that are subsequently revised.