Germany Gfk consumer confidence for February dropped to -15.6, down from -7.5, well below expectation of -7.8. In January, economic expectations dropped from 4.4 to 1.3. Income expectations dropped from 3.6 to -2.9. Propensity to buy dropped sharply from 36.6 to 0.0.
Rolf Bürkl, consumer expert at GfK: “Consumer sentiment is facing difficult challenges in the first quarter of this year. If it is to recover sustainably, infection rates will need to decrease more than they have to date so that the measures can be relaxed significantly. This means that we will need to wait a while before we see the recovery that many had been hoping for this year.”
