Ger­man con­sumer morale dark­ens un­ex­pect­edly

The Star Malaysia - StarBiz - - Foreign News -

BER­LIN: The mood among Ger­man shop­pers de­te­ri­o­rated un­ex­pect­edly for the sec­ond month in a row head­ing into Septem­ber, a sur­vey showed, cast­ing some doubt about the strength of a con­sumer-led up­swing in Europe’s largest econ­omy.

House­hold spend­ing was the main growth driver in the first half of the year, to­gether with higher state con­sump­tion and in­vest­ments in con­struc­tion, pro­vid­ing a buf­fer against an un­cer­tain trade en­vi­ron­ment.

The GfK re­search in­sti­tute said its con­sumer sen­ti­ment in­di­ca­tor, based on a sur­vey of around 2,000 Ger­mans, fell to 10.5 go­ing into Septem­ber from 10.6 a month ear­lier.

An­a­lysts polled by Reuters had fore­cast an un­changed read­ing of 10.6.

“While eco­nomic ex­pec­ta­tions im­proved, in­come ex­pec­ta­tions and the propen­sity to buy de­clined a bit,” GfK re­searcher Ralf Buerkl said. But all sub-in­di­ca­tors re­mained on a rel­a­tively high level over­all, he added. — Reuters

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