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German Gfk consumer climate dips in line with expectations

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Forexpros - Germany's consumer climate for September declined in line with expectations, industry data showed on Thursday.

In a report, market research group Gfk said its index of Germany's consumer climate fell in line with expectations to 5.2 in September from 5.3 in August, whose figure was revised down from 5.4.

Despite the current crisis on the financial markets, Germans' willingness to buy is surprisingly robust and increased further in August from an already high level.

However, the worsening of the international debt crisis and rising fears of a return to recession for the global economy have clearly left their mark on the economic optimism of Germans.

The report said that economic expectations virtually collapsed in August, and in light of this, there has also been a moderate drop in Germans' income expectations.

Following the release of the data, the euro was fractionally higher against the U.S. dollar, with EUR/USD easing up 0.01% to trade at 1.4417.

Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.6%, France's CAC 40 futures edged 0.55% higher, the FTSE 100 futures rose 0.6%, while Germany's DAX futures indicated a gain of 0.45%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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