1/24, 8:02 AM (Source: TeleTrader)
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GfK: German consumer confidence to improve in February

Consumer confidence in Germany is expected to come in at negative 33.9 in February, jumping by 3.7 points in comparison to the previous month's reading, market research institute GfK revealed in a report on Tuesday.

With the third increase in a row, the economic expectations indicator added 9.7 points, advancing to minus 0.6 points, as recession fears seem to subside. Consumers' income expectations climbed 11.2 points in January, arriving at negative 32.2 points, as energy prices rose less sharply in recent weeks and Germany introduced relief packages to curb energy costs. However, the propensity to buy registered a loss of 2.4 points to record negative 18.7, continuing the trend of consistent ups and downs.

GfK consumer expert Rolf Burkl noted that the sentiment is consolidating under the influence of falling energy prices, but warned that 2023 "will remain difficult for the domestic economy."

Baha Breaking News (BBN) / MX