Germany’s consumer confidence is set to remain unchanged in February as modest improvements in economic expectations and willingness-to-buy were offset by deterioration in the income outlook, survey results from GfK showed Wednesday.
The forward-looking GfK Consumer Confidence Index showed a score of 9.4 points for February, unchanged from January, the Nuremberg-based market research group said. Economists had expected slight easing to 9.3 points.
“The consumer climate has therefore been able to withstand the recent growth in risks it is facing,” the GfK said.
“However, in the next few months the escalating terror threat and the rising fears among certain groups of the population that Germany could eventually become overstretched by the persistently high influx of refugees and asylum seekers may cause consumer confidence to wane in the long term.”
The economic expectations indicator climbed slightly by 1.3 points to 4.2 in January.
The propensity-to-buy index climbed further in January, adding 3.7 points to reach 52.7 points, which was its highest level since July 2015, when it stood at 55.4 points.
Meanwhile, the income expectations measure partly shed the gains from the previous month and fell 3.6 points to 47.2.
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