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German consumer sentiment to rise in July, says GFK

Staff Writer |
German consumer confidence is set to improve slightly in July, the market research group GfK said Thursday.

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The forward-looking consumer sentiment index rose 0.2 points to 10.6 in July. The expected score was 10.5.

In June, all components of confidence index namely economic and income expectations and propensity to buy strengthened from previous month.

Economic outlook climbed for the fourth consecutive month in June. The corresponding indicator gained 6.5 points to 41.3, the highest level for almost three years.

The income expectations index rose 1.7 points to 60.2 in June, which was the highest score since German reunification. The positive outlook for income growth was largely driven by robust labor market conditions.

Propensity to buy also experienced a slight rise in June. The indicator rose by 2.2 points to 57.9 points. Consumers were willing to make larger purchases with higher financial risk.

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