GfK’s German consumer sentiment index for August improved

The indicator in August strengthened to minus 18.4 points from minus 21.6 points in July. Within six months, the indicator worsened only in July.

In the average opinion of the analysts, a less strengthening index, minus 21.1 points, was included for August. A year ago, the indicator reflected a more pessimistic consumer mood, standing at minus 24.6 points.

The fact that household income expectations reached the highest level in the past two years contributed significantly to the strengthening of the indicator in August, while the index measuring economic expectations and willingness to buy also showed a moderate increase.

The indicator of consumers’ economic expectations for the next 12 months jumped to 9.8 points from 2.5 points in July, the indicator reflecting the population’s income expectations improved from 8.2 points in July to 19.7 points, and the indicator indicating the willingness to spend went from minus 13 points to minus 8. It rose to 4 points.

A GfK indicator above zero indicates an annual increase in residential consumption, while a value below zero indicates a decrease.