Key facts
- German consumer sentiment index fell to -29.6 for August from -29.3 in July.
- Income expectations declined, and willingness to save increased.
- Willingness to buy showed a slight increase but remains subdued.
- The survey was conducted between July 2-13.
German consumer sentiment is expected to decline slightly in August, according to a survey by the Nuremberg Institute for Market Decisions and GfK. The consumer sentiment index fell to -29.6 points for August, down from a revised -29.3 in July. This contrasts with analyst expectations, which had predicted a slight rise to -28.5 points.
Rolf Buerkl, head of consumer climate at NIM, stated that income prospects have seen another slight decrease, while the willingness to save has picked up moderately. He noted that ongoing uncertainty leads many households to remain cautious about spending.
The overall index was somewhat stabilized by a moderate increase in households' willingness to buy, although this component remains at a low level due to persistent uncertainties. The survey was conducted from July 2-13.