Consumer confidence in Germany to decline in February
Date
1/30/2025 4:05:34 AM
(MENAFN) Consumer confidence in Germany is expected to decline in February, as new data released on Wednesday shows a decrease in sentiment. Market research firm GfK has projected a consumer sentiment score of minus 22.4 points for February, marking a drop of 1 point from January's revised figure of minus 21.4 points. This signals a further decline in consumer morale as the year begins.
Rolf Bürkl, a consumer expert at NIM, commented on the data, stating that the Consumer Climate in Germany has experienced another setback. He noted that the brief optimism that had emerged from the previous month's slight improvement has quickly faded. Bürkl emphasized that a sustained recovery in consumer sentiment is not likely at the moment, especially with rising inflation adding to economic concerns.
The income expectations of German consumers have also decreased, falling by 2.5 points in February to a current value of minus 1.1 points. This decline suggests that consumers are feeling less optimistic about their financial situation. Additionally, the propensity to buy dropped by 3 points, reaching a value of minus 8.4, indicating that consumers are less willing to spend.
Consumers' confidence in the economy has also worsened, with the index falling by 1.9 points to a current level of minus 1.6. These figures suggest a continued lack of confidence in both personal financial outlooks and the broader economic environment, pointing to a challenging period for consumer sentiment in Germany.
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