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German Economic Uncertainties Push Consumer Sentiment Forecast Down 0.8 Points

August 26, 2021 by Forex Winner Leave a Comment

German Economic Uncertainties Push Consumer Sentiment Forecast Down 0.8 Points

 Source: GFK 

GfK puts the German consumer sentiment value at -1.2 points for September, down 0.8 points from August amid a decline in propensity to spend and economic expectations. DAX is down -0.63%, EURUSD is up +0.02%. 

  • The fall in consumer sentiment reflects the uncertainty around tighter restrictions and the slow rollout of the covid-19 vaccine.  
  • Rising inflation, which saw the cost-of-living jump by 3.8% in July, is also lowering consumer sentiment.
  • The economic expectation among the German consumers is still up despite the consumer euphoria dropping 13.8 points to 40.8 points in August.
  • The income expectations gained by 1.5 points to stand at 30.5 points, about 18 points higher compared to the same period of the prior year.

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