6/26, 8:01 AM (Source: TeleTrader)
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GfK: German consumer confidence declines in July

Confidence among consumers in Germany declined for a second time in a row heading into July, according to the latest release by GfK on Wednesday, with the main reason for the sentiment drop was a noticeable decline in income expectations. However, the market research institute stated the propensity to buy was increasing again while economic expectations have ended their decline.

"Domestic demand nevertheless remains an important pillar of the German economy. In order for this to remain the case, the uncertainty surrounding job security, which has also grown due to the trade conflict with the USA, must be counteracted as quickly as possible. If this does not work out in the eyes of the employees, it would put even more pressure on the consumer climate. Also, the GfK consumption forecast of 1.5 percent for this year would certainly not be maintained."

Breaking the News / MD