Consumer confidence in Germany is set to deteriorate in August as households preferred to save rather than spend due to the escalating uncertainty, survey data from the market research group GfK revealed on Thursday.
The Consumer Climate indicator dropped unexpectedly to -21.5 points in August from -20.3 points in July. The score was forecast to improve to -19.4.
The continuing increase in the willingness to save was the major reason for the second consecutive fall in overall sentiment.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com