GfK’s German consumer sentiment index improved in November

By: Trademagazin editor Date: 2021. 10. 27. 10:07

Instead of the expected deterioration, GfK’s German consumer sentiment index improved overall for November, although the components of the index developed differently according to the report.

German consumer sentiment improved

The consumer sentiment index for November rose 0.9 points from 0.4 points in October instead of the expected minus 0.5 points. 0.9 points for November is the highest since 2.3 points in April 2020.

The rise in the index in November was based on an improvement in the propensity to spend and a weakening propensity to save, as consumers’ expectations of both economic growth and income developments deteriorated. (MTI)