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Mid Session Commentary - Detailed News

Economic Buzz: German Gfk consumer sentiment to recover moderately
26-Sep-24   12:35 Hrs IST
German consumer confidence will recover moderately in October despite weaker economic outlook, survey data published jointly by GfK and the Nuremberg Institute for Market Decisions showed Thursday.

The forward-looking consumer sentiment index rose to -21.2 in October from -21.9 in September.

Economic expectations deteriorated for the second straight month in September on fears of rising unemployment. The economic expectations index fell 1.3 points to 0.7.

On the other hand, income expectations are recovering after a slump in August. The corresponding index climbed 6.6 points to 10.1. However, the latest rise was not sufficient to offset the decline in the previous month.

Rising concerns about employment are overshadowing the increase in purchasing power of households, GfK said. Inflation stabilized around 2 percent, while wage hikes and pensions are rising more significantly.

The propensity to buy rose four points to -6.9 in September, which was the highest level since March 2022. Nonetheless, the level of propensity to buy remained extremely low.

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