FOREX TradingCharts.com

Financial News: German GfK Consumer Confidence To Fall Sharply In

German GfK Consumer Confidence To Fall Sharply In January

12/21/2021 - 03:12:00 (RTTNews)

(RTTNews) - German consumer confidence is set to fall sharply in January largely due to the restrictions imposed amid the fourth wave of the pandemic and rising inflation, survey results from the market research group GfK showed on Tuesday.

The forward-looking consumer sentiment fell to -6.8 in January from -1.8 in December. The expected reading was -2.7.

High incidences due to the fourth wave of the corona pandemic with further restrictions as well as significantly increased prices are increasingly affecting the consumer climate, Rolf Bürkl, GfK consumer expert, said.

The prospects for the beginning of the coming year are also subdued against the background of the rapid expansion of the Omicron variant, Bürkl added.

Economic and income expectations and the propensity to buy declined significantly in December, the survey showed.

Largely due to supply chain issues, the economic sentiment index fell 13.9 points to 17.1. This was the third decline in a row. A lower value for economic sentiment was last measured eight months ago.

For the third time in a row, the income expectations posted a noticeable decline. The indicator fell by six points to 6.9 points in December.

Rising prices for energy and food are weakening the purchasing power of consumers' incomes. In addition, there is a risk that a so-called wage-price spiral will be set in motion in the medium and long term, the survey revealed.

At the same time, the propensity to buy slid to 0.8 in December from 9.7 a month ago.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


UK Consumer Sentiment Weakens In January: GfK (35 min(s), 05 sec(s) ago)
(RTTNews) - UK consumer confidence weakened in January amid concerns over higher inflation and int ...Full Story»

European Economics Preview: UK Retail Sales Data Due (01 hr(s), 32 min(s), 05 sec(s) ago)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story»

Japan Inflation Climbs 0.8% On Year In December (06 min(s), 55 sec(s) ago)
(RTTNews) - Overall consumer prices in Japan were up 0.8 percent on year in December, the Ministry ...Full Story»

Japan Inflation Data Due On Friday (01 min(s), 55 sec(s) ago)
(RTTNews) - Japan will on Friday release December data for consumer prices, highlighting a modest ...Full Story»

ECB Minutes Show Caution About 'Higher For Longer' Inflation (59 min(s), 55 sec(s) ago)
(RTTNews) - European Central Bank policymakers retained the view that the current spike in inflati ...Full Story»

Indonesia Central Bank Leaves Rates Unchanged (05 min(s), 55 sec(s) ago)
(RTTNews) - Indonesia's central bank on Thursday left its key interest rate unchanged again in ...Full Story»

Malaysia Holds Key Rate Steady At 1.75% (26 min(s), 55 sec(s) ago)
(RTTNews) - Malaysia's central bank left its key interest rate unchanged on Thursday as it exp ...Full Story»

Turkey Central Bank Keeps Rate Unchanged (08 min(s), 55 sec(s) ago)
(RTTNews) - Turkey's central bank kept its interest rates unchanged on Thursday, after slashin ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

UK Consumer Sentiment Weakens In January: GfK

01/21/2022 - 01:53 AM (RTTNews)
(RTTNews) - UK consumer confidence weakened in January amid concerns over higher inflation and int ...Full Story>>

European Economics Preview: UK Retail Sales Data Due

01/21/2022 - 00:56 AM (RTTNews)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story>>

Japan Inflation Climbs 0.8% On Year In December

01/20/2022 - 20:35 PM (RTTNews)
(RTTNews) - Overall consumer prices in Japan were up 0.8 percent on year in December, the Ministry ...Full Story>>

Japan Inflation Data Due On Friday

01/20/2022 - 17:30 PM (RTTNews)
(RTTNews) - Japan will on Friday release December data for consumer prices, highlighting a modest ...Full Story>>

ECB Minutes Show Caution About 'Higher For Longer' Inflation

01/20/2022 - 12:28 PM (RTTNews)
(RTTNews) - European Central Bank policymakers retained the view that the current spike in inflati ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.