German consumer confidence is set to improve in October, survey results from the market research group GfK showed on Tuesday.
The forward-looking consumer confidence index rose to +0.3 points from -1.1 in September. The score was forecast to fall further to -1.5.
GfK said the consumer climate has reached its highest level in almost a year and a half.
Even if the consumer climate has almost reached its pre-crisis level, it remains to be seen whether we can speak of a fundamental trend reversal,” Rolf B?rkl, GfK consumer expert, said. “What matters here is how the infection process will develop in the winter months and whether new restrictions will be necessary.”
Both economic and income expectations as well as the propensity to buy advanced in September.
The economic sentiment indicator gained 7.7 points to 48.5 points in September. Likewise, the income indicator climbed 6.9 points to 37.4.
After a plus of 3.1 points, the propensity to buy indicator currently showed a value of 13.4 points.
The material has been provided by InstaForex Company – www.instaforex.com