Germany Gfk Consumer Sentiment for March ticked up from -29.6 to -29.0, matched expectations. In February, economic expectations rose from -6.6 to -6.4. Income expectations improved notably from-20.0 to -4.8. Willingness to buy fell from -14.8 to -15.0. Willingness to save jumped from 14.0 to 17.4.
Rolf Bürkl, a consumer expert, highlighted the prevailing uncertainty among consumers, driven by persistently high prices and dimming economic projections for Germany. German government’s downgrade of its growth forecast for 2024 from an initial 1.3% down to a mere 0.2% underscores the challenges ahead.
