Germany’s Gfk consumer sentiment for November fell from -26.7 to -28.1. In October, economic expectations improved slightly from -3.4 to -2.4. Income expectations fell form -11.3 to -15.3. Propensity to buy ticked up from -16.4 to -16.3. Propensity to save rose from 8.0 to 8.5.
“With the third decline in a row, hopes of a recovery in consumer sentiment this year must finally be laid to rest,” explains Rolf Bürkl, consumer expert at NIM.
“Above all, high prices for food are weakening the purchasing power of private households in Germany, so private consumption will not be able to support the economy this year.”
