GfK’s German consumer sentiment index improved unexpectedly

For February, consumer sentiment in Germany has improved unexpectedly, according to the results of a January survey conducted by the GfK (Growth from Knowledge) economic research institute in Nuremberg.

For February, GfK’s consumer sentiment index rose to 9.9 points, the highest since June 2019, from the 9.7 points in January. GfK has revised its January data upwards from the 9.6 points. The market expected 9.6 points in January, the same as in January.

The improvement in expectations of economic growth and income, as well as the strengthening of the spending ability of the population, contributed to the rise of the sentiment index in February. (MTI)