Germany Gfk Consumer Sentiment for August improved from -25.2 to -24.4, slightly above expectation of -24.7. In July, Economic Expectations was unchanged at 3.7. Income Expectations rose from -10.6 to -5.1. Propensity to buy ticked up from -14.6 to -14.3.
“Currently, only income expectations are contributing to the improvement in consumer sentiment. The main reason for the decrease in pessimism is the hope of declining inflation rates,” explains GfK consumer expert Rolf Bürkl.
“This has somewhat improved the chances of consumer sentiment resuming its recovery course. However, the level will still remain low in the coming months, and private consumption will therefore not be able to make a positive contribution to overall economic development.”
