Germany's consumer confidence is set to weaken sharply in September amid deterioration in economic expectations and the propensity to buy as well as an inclination to save, survey data showed Thursday.
The forward-looking consumer confidence indicator dropped to -1.2 from a revised -0.4 in August, the market-research group GfK said. Economists had expected the index to fall to -0.7. The economic expectations indicator fell for a second straight month, but remained at a high level. The reading dropped to 40.8 from 54.6. The propensity-to-buy index eased to 10.3 from 14.8 in the previous month. Carefree shopping is still not a reality in light of mandatory mask use and distance rules as well as stronger rise in prices, the GfK said.
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