September GfK consumer sentiment -26.6 vs -29.6 expectedPrior -29.6; revised to -29.4
German consumer sentiment looks set to improve further going into September, with this being the highest reading since February (ahead of March). The good news is that income expectations have now turned positive again while economic expectations also continue to show much improvement.
Here’s the more detailed breakdown:
Economic expectations -3.9 vs -6.3 priorIncome expectaitons 1.7 vs -14.5 priorWillingness to buy -9.8 vs -9.9 priorWillingness to save 15.5 vs 17.0 prior
NIM notes that: “Although the economic outlook in late summer is still more than six points below the corresponding level of the previous year, the fourth consecutive increase indicates a slight upward trend.”
This article was written by Justin Low at investinglive.com.