Germany: Consumer confidence inches up in February
January 29, 2013
German consumer confidence continued to improve at the outset of the year. The forward-looking GfK consumer confidence indicator inched up to 5.8 points in February, which was up from the revised 5.7 points recorded in January (previously reported: 5.6 points) and beat market expectations that had the index remaining at 5.7 points.
While the overall consumer confidence index refers to February, GK also publishes three sub-indicators, which refer to January. According to GfK, all the three gauges improved over the previous month. In particular, households' income expectations and the sub-index tracking their willingness to buy picked up noticeably compared to the previous month. Economic expectations also increased in January, reflecting consumers' less downbeat assessment about the economic outlook for 2013.
Author: Ricardo Aceves, Senior Economist