Market research group GfK

Consumer confidence reaches highest level in 18 months

Consumer climate improving: Travel agencies and tour operators such as Explorer Fernreisen in Hamburg hope that pent-up demand leads to higher travel spending as well.
FVW Medien/HMJ
Consumer climate improving: Travel agencies and tour operators such as Explorer Fernreisen in Hamburg hope that pent-up demand leads to higher travel spending as well.

German consumer confidence is set to improve in October, survey results from GfK showed on Tuesday. The market research group said the consumer climate has reached its highest level in almost a year and a half.

The forward-looking consumer confidence index rose to +0.3 points, from -1.1 in September. The score had been forecast to fall further, to -1.5.

GfK said the consumer climate has reached its highest level in almost a year and a half. But "even if the consumer climate has almost reached its pre-crisis level, it remains to be seen whether we can speak of a fundamental trend reversal," Rolf Buerkl, GfK consumer expert, said.

"What matters here is how the infection process will develop in the winter months and whether new restrictions will be necessary."

Economic and income expectations advanced

Both economic and income expectations as well as the propensity to buy advanced in September. The economic sentiment indicator gained 7.7 points, to 48.5 points in September. Likewise, the income indicator climbed 6.9 points, to 37.4.

After a plus of 3.1 points, the propensity-to-buy indicator currently showed a value of 13.4 points.

Sie können diese Nachricht nicht mehr kommentieren.

Themen
GfK


stats