Germany’s consumer confidence is set to drop marginally in September, according to a monthly survey from the market research group GfK.
The forward-looking consumer sentiment index dropped to 10.5 in September from 10.6 in August, GfK said Wednesday. The score was forecast to remain unchanged at 10.6.
While economic expectations improved, income expectations and the propensity to buy declined in August.
The economic expectations index rose to 22.2 in August from 15.7 in July. Despite a trade conflict with the USA as well as increasing energy prices, the German consumer is once again showing greater economic optimism.
Meanwhile, the income expectations indicator came in at 52.6 versus 57.5 a month ago. A lower value was last measured in November 2017 at 47.9 points.
At the same time, the propensity to buy dropped to 55.2 from 56.2 in the previous month. Compared to previous year, the score dropped only three points suggesting the stability of the consumer tendency, GfK said.