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.
Author: Jan Lammersen, Economist