Germany Consumer Confidence October 2018


Germany: Consumer confidence expected to remain stable in November

October 26, 2018

The forward-looking GfK Group Consumer confidence indicator is expected to remain stable at 10.6 points in November, reflecting a mixed mood in backward-looking underlying confidence indicators for October that are released simultaneously.

Consumers’ propensity to buy improved markedly in October, amid optimistic perception of labor market dynamics and the unattractiveness of saving due to low interest rates. On a less positive note, income and economic expectations became less rosy. Lingering Brexit-related uncertainty and the ongoing trade dispute between the U.S. and the EU, as well as the U.S. and China, cloud the economic outlook. Subsequently, income expectations moderated in October, but remained well-entrenched in positive territory on the back of sound labor market developments.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2019, which is unchanged from last month’s estimate. For 2020, panelists see private consumption growing 1.6%.

Author:, Economist

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Germany Consumer Confidence Chart

Germany Consumer Confidence October 2018

Note: GfK Consumer Climate Index.
Source: The GfK Group.

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