Germany: German consumer confidence is broadly stable in December
November 24, 2016
The forward-looking consumer confidence indicator published by the GfK Group was almost unchanged in December, rising marginally to 9.8 points from 9.7 points in November.
With respect to consumer confidence in November, the economic expectations sub-sector rose relative to October, despite a slowdown in German GDP growth in Q3. The willingness to buy sub-sector also increased in November relation to October, while income expectations dipped slightly in November compared to the prior month, due to the negative impact of higher inflation on consumers’ purchasing power. However, consumers still remain optimistic regarding their incomes, with GfK suggesting this optimism is likely to extend into the future due to the currently stable employment situation.
Author: Oliver Reynolds, Economist