German Gfk consumer climate for September dropped -1.8, down from -0.2, missed expectation of 2.0. Economic expectations improved to 11.7, up from 10.6. However, income expectations dropped sharply to 12.8, down form 18.6.
Rolf Bürkl, consumer expert at GfK, “an increase in the number of infections and the fear that coronavirus-related restrictions will be further tightened are creating uncertainty and consequently dampening the mood… Whether or not this is just a temporary slowdown will depend primarily on what infection rates look like in future and the necessary measures to be put in place by policy makers.”
