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Financial News: Germany Consumer Confidence To Fall In May

Germany Consumer Confidence To Fall In May

04/26/2018 - 07:05:00 (RTTNews)

(RTTNews) - German consumer sentiment is set to weaken in May due to rising insecure state of geopolitics, survey data from the market research group GfK showed Thursday.

The consumer climate index dropped 0.1 point to 10.8 in May. The score came in line with expectations.

The survey revealed that the West's confrontation with Russia in the Syria conflict is escalating and is clearly causing increasing anxiety among consumers in terms of Germany's future economic prospects.

Among components of the index, economic expectations and income expectations weakened in April. In contrast, propensity to buy maintained its already very high level.

The economic expectation indicator slid 8.5 points to 37.4 in April.

The escalation of the Syrian crisis and the protectionist trade policies of the United States are worrying consumers and could now also affect Germany's previously excellent economic prospects, GfK said.

The income expectations indicator fell by 1.4 to 53.5 points in April. Despite these minor losses, general optimism about income remained at the same level, the agency added.

Meanwhile, the propensity to buy index rose 0.9 points to 60, indicating that consumers are still willing to open their wallets and spend.

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