GfK: German consumer confidence to worsen in Sept.
EPA-EFE/FILIP SINGER
Consumer confidence in Germany is expected to worsen in September and come in at negative 25.5, up from negative 24.6 registered in August, market research institute GfK said in its report published on Tuesday.
After standing at 3.7 in August, the economic expectations indicator is seen slumping by 9.9 points to negative 6.2 in September. The income expectations indicator is anticipated to fall by 6.4 points to negative 11.5.
"The consumer sentiment is currently not showing a clear trend, neither downward nor upward ... The chances that consumer sentiment can sustainably recover before the end of this year are dwindling more and more. Persistently high inflation rates, especially for food and energy supplies, ensure that the consumer sentiment is currently not making any progress," Rolf Burkl, GfK consumer expert, commented.