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.