Germany Consumer Confidence September 2018


Germany: Slight pick-up in consumer confidence expected in October

September 27, 2018

The forward-looking consumer confidence indicator for October released by the GfK Group increased slightly to 10.6 points, up from September’s 10.5 points, with consumers unmoved by recent political uncertainty. Backward-looking indicators for September, which were released simultaneously, showed an overall positive trend.

Economics expectations improved strongly in September, despite lingering uncertainty surrounding Brexit and the trade dispute between the European Union and the United States. Income expectations also improved, likely underpinned by low unemployment and resilient growth in wages and pensions. Furthermore, consumers’ propensity to buy remained robust in September despite moderating from the previous month. Propensity to buy has also benefitted from the positive labor market developments.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.5% in 2018, which is unchanged from last month’s estimate. For 2019, panelists see private consumption growing 1.7%, unchanged from the previous month.

Author:, Economist

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Germany Consumer Confidence Chart

Germany Consumer Confidence October 2018 0

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

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