Consumer confidence fell in Germany

According to GfK market research institute; contrary to the expectations, consumer confidence has deteriorated in Germany,: November’s sentiment index decreased by 4.0 point from the previous 4.2 points.

The analysts expected an improvement of 4.5 points. This is the first time since September 2008, that the value of the confidence index reduced.
The economic expectations index improved to 8.7 points in September, from the previous 3.4 points. But the indicator for income development declined to 12.9 points from the earlier 16 points. The index, which measuring purchase willingness, decreased to 26.1 point from the previous 36.5 points.