Germany’s consumer confidence recovers, but momentum slows

Consumer sentiment in Germany has been improving for a sixth month in a row but the momentum has weakened versus the previous months, an institute of the market research company GfK released on Wednesday. The institute expected minus 29.5 points in the consumer confidence for April, up 1.1 points from March. It said economic expectation indicator dropped 3.7 points following another decrease of 2.3 points, noting: "In contrast to income expectations, economic expectations are taking a small break in March. "This means that economic sentiment remains above its long-term average, which is at zero points." Rolf Burkl, an expert in the institute, said decreasing energy prices reflected on income expectations positively, but the inflation is still high this year. The report said the propensity to buy stood at minus 17 points, 15 points lower than the previous year's value, adding that the index is apparently unable to benefit from the improved expectations. The institute also said it is more doubtful that the country can avoid a recession.

Source: Anadolu Agency