German consumer confidence declines

Market research group GfK released its consumer confidence index for Germany on Friday. German Gfk consumer confidence index fell to 9.9 in September from 10.1 in August.

Analysts had expected the index to remain unchanged at 10.1.

The decrease was driven by declines in economic and income expectations and the willingness to buy.

The economic expectations index plunged to 16.6 points in August to 18.4 in July, while the willingness to buy index fell 3.4 points to 52.0.

The income expectations index dropped by 5.1 points in September and is now at 53.5. (MTI)