German Consumer Sentiment Set to Pick Up in February -GfK Survey
January 29 2020 - 2:29AM
Dow Jones News
By Emese Bartha
FRANKFURT--German consumer sentiment shows signs of recovery
with slightly increased optimism at the start of the year, GfK
market research group said in its monthly survey on Wednesday.
GfK's forward-looking index is set to come in at 9.9 points in
February, up from an upwardly revised 9.7 points for January, it
said.
The first reading for January showed a value of 9.6 points.
Economists in The Wall Street Journal's survey forecast the index
at 9.6 points. GfK uses three sub-indexes for the current month to
derive a sentiment figure for the coming month.
In January, economic expectations rose to minus 3.7 points from
minus 4.4 points in December and income expectations increased to
44.6 points from 35.0 points, GfK said.
The propensity to buy increased to a 12-month high of 55.5
points in January from 52.2 points in December, GfK said.
"Above all, the rise in income expectations and propensity to
buy at the beginning of this year will allow the consumer climate
to pick up," GfK said.
The positive start for the consumer climate in 2020 confirms
GfK's assessment that private consumption will continue to be an
important pillar of the German economy this year, it said.
GfK has forecast real growth of one percent for private
consumption spending in Germany in 2020, it said.
Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
January 29, 2020 02:14 ET (07:14 GMT)
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