FOREX TradingCharts.com

Financial News: German GfK Consumer Sentiment Set To Rise In

German GfK Consumer Sentiment Set To Rise In June

05/27/2021 - 07:29:00 (RTTNews)

(RTTNews) - German consumer confidence is set to improve in June underpinned by robust economic expectations, survey results from the market research group GfK showed on Thursday.

The forward-looking consumer confidence index rose to -7.0 in June from revised -8.6 in May. Nonetheless, the reading was weaker than the economists' forecast of -5.2.

Rolf Bürkl, GfK consumer expert, said "We are leaving the third wave behind us more and more, the incidences have been falling significantly for several weeks."

"We are also making great strides in vaccination. As a result, openings and a departure from strict lockdown are possible," Bürkl added.

The sudden rise in the economic outlook feeds hopes that - with a delay - consumer sentiment will also benefit more in the second half of the year and private consumption can recover, the market research group said.

Currently, the German economy is being supported primarily by the positive export development, especially in the trade in goods and services with China and the USA.

Among three components of the consumer confidence index, economic expectations surged in May and income expectations rose moderately. Meanwhile, the propensity to buy declined from April.

After a plus of almost 34 points, the economic expectations indicator jumped to 41.1 points in May, the highest value in more than three years.

The income expectations indicator rose 10.2 points to 19.5 points in May. Compared to last year, the score was up by 25 points.

After three increases in a row, the propensity to buy indicator dropped 7.3 points to 10.0. Despite the openings and relaxations that have been made or announced so far, a number of consumption options, especially in the service sector, are not possible or only possible to a very limited extent, the survey showed.

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


Indonesia Holds Key Interest Rate Steady (34 min(s), 57 sec(s) ago)
(RTTNews) - Indonesia's central bank left its key interest rates unchanged on Thursday, citing ...Full Story»

U.S. Leading Economic Index Jumps In Line With Estimates In May (02 hr(s), 06 min(s), 57 sec(s) ago)
(RTTNews) - Suggesting strong economic growth will continue in the near term, the Conference Board ...Full Story»

Philly Fed Index Points To Modest Slowdown In Growth In June (03 hr(s), 48 min(s), 57 sec(s) ago)
(RTTNews) - Philadelphia-area manufacturing activity expanded at a slightly slower rate in the mon ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Increase After Six Straight Declines (04 hr(s), 03 min(s), 57 sec(s) ago)
(RTTNews) - After reporting decreases in first-time claims for U.S. unemployment benefits for six ...Full Story»

Taiwan Central Bank Holds Rate At Record Low (04 hr(s), 31 min(s), 57 sec(s) ago)
(RTTNews) - Taiwan's central bank kept its key interest rates unchanged at a record low, as wi ...Full Story»

Philly Fed Index Edges Down Slightly More Than Expected In June (04 hr(s), 34 min(s), 57 sec(s) ago)
(RTTNews) - Philadelphia-area manufacturing activity expanded at a slightly slower rate in the mon ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Rise To 412,000 (04 hr(s), 39 min(s), 57 sec(s) ago)
(RTTNews) - After reporting decreases in first-time claims for U.S. unemployment benefits for six ...Full Story»

South Africa Retail Sales Grow In April (05 hr(s), 33 min(s), 57 sec(s) ago)
(RTTNews) - South Africa's retail sales accelerated in April, data from Statistics South Afric ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Indonesia Holds Key Interest Rate Steady

06/17/2021 - 12:41 PM (RTTNews)
(RTTNews) - Indonesia's central bank left its key interest rates unchanged on Thursday, citing ...Full Story>>

U.S. Leading Economic Index Jumps In Line With Estimates In May

06/17/2021 - 11:09 AM (RTTNews)
(RTTNews) - Suggesting strong economic growth will continue in the near term, the Conference Board ...Full Story>>

Philly Fed Index Points To Modest Slowdown In Growth In June

06/17/2021 - 09:27 AM (RTTNews)
(RTTNews) - Philadelphia-area manufacturing activity expanded at a slightly slower rate in the mon ...Full Story>>

U.S. Weekly Jobless Claims Unexpectedly Increase After Six Straight Declines

06/17/2021 - 09:12 AM (RTTNews)
(RTTNews) - After reporting decreases in first-time claims for U.S. unemployment benefits for six ...Full Story>>

Taiwan Central Bank Holds Rate At Record Low

06/17/2021 - 08:44 AM (RTTNews)
(RTTNews) - Taiwan's central bank kept its key interest rates unchanged at a record low, as wi ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.