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German consumer climate predicted to fall in November

Staff Writer |
The German consumer climate is to fall below the 10-point mark for the first time since June 2016.

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The predicted overall indicator is 9.7 points for November, down from 10 points in October, market research group GfK reported.

According to GfK, consumer sentiment in October is currently mixed. Both income expectations and propensity to buy have suffered losses, while economic expectations have improved in October after three successive falls.

"It is more a consequence of an external trade environment that has become increasingly difficult. According to the forecast, global economic growth will remain weak," commented Rolf Buerkl, an analyst for GfK.

The report also noted that the numerous international trouble spots, like increased risk of terrorism for Germany, have probably had a somewhat negative impact on consumer sentiment.

The GfK consumer climate survey has been conducted since 1980. Its findings are based on around 2,000 consumer interviews conducted each month on behalf of the European Commission, the executive body of the European Union.

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