12/21/2022, 8:02 AM (Source: TeleTrader)
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GfK: German consumer confidence to recover slightly in Jan.

Consumer confidence in Germany is expected to come in at negative 37.8 in January, rising by 2.3 points in comparison to the last month's reading as the consumer mood cautiously recovers, market research institute GfK revealed in a report on Wednesday.

The consumer sentiment registered an upward movement for the third time in a row, with the January reading marking better-than-expected figure. The economic expectations were up by 7.6 points on a monthly basis to stand at negative -10.3 points. The income expectations reading jumped by 10.9 points, reaching negative 43.4. In addition, the propensity to buy indicator is projected to stabilize in January, moving up by 2.3 points to land at negative 16.3.

Despite a slight improvement, the consumer mood is still on "shaky ground," according to Rolf Buerkl, a consumer expert at GfK. He noted that a worsening geopolitical situation that would result in increased energy prices might undermine consumer confidence in the future.

Baha Breaking News (BBN) / AB