Germany Gfk consumer sentiment for March dropped slightly by -0.1 to 9.8, matched expectations. Nevertheless, on the positive side, economic expectations rose for the second consecutive month, up from -3.7 to 1.2, back above long term average around 0.
“The consumer climate has been unable to continue the previous month’s positive trend. The spread of the coronavirus has undoubtedly contributed to uncertainty among consumers,” explains Rolf Bürkl, consumer expert at GfK.
“A decline or halt in production in companies in China triggered by the virus could affect production in Germany as well, or even cause it to come to a complete standstill. This could result in reduced working hours and possibly reductions in staff. And this would not be of benefit to consumer confidence.”
