German Consumer Morale To Strengthen In April
29 Março 2023 - 2:22AM
RTTF2
Despite the rising recession fears, confidence among German
consumers strengthened for the sixth consecutive month on improving
income expectations, a closely-watched survey by the market
research group GfK revealed Wednesday.
The consumer confidence index for April climbed to -29.5 from
-30.6 in March, the Nuremberg-based GfK said. The reading for March
was slightly revised from -30.5. The expected score was -29.2.
The survey carried out between March 2 and 13 showed a mixed
picture. Although consumer sentiment continued its recovery, the
momentum was noticeably slower than in the previous months.
Within three sub-components of consumer confidence, income
expectations strengthened in March and the propensity to buy hardly
changed. By contrast, the economic expectations suffered a setback
after four straight months of increase.
At -24.3, the income expectations index gained three points to
hit a 10-month high in March. Nonetheless, the level of income
expectations remained very low.
Rolf Burkl, GfK consumer expert, said the falling energy prices
have boosted income prospects of households. Nevertheless, Burkl
noted that inflation will remain high.
Further, the GfK expert said the expected loss of purchasing
power continued to dampen a sustained recovery in domestic
demand.
GfK said private consumption is unlikely to provide any positive
contribution to recovery.
Despite the strong improvement in income prospects, the
propensity to buy gained only 0.3 points to -17.0 in March. The
stagnating development in the propensity to buy signals uncertainty
among consumers, Gfk said.
After four consecutive increases, the economic expectations
index dropped 2.3 points to 3.7 in March. Economic confidence
remained above its long-term average of around zero.
The German economy is widely expected to undergo a recession.
Gross domestic product is likely to drop slightly in the first
quarter after a 0.4 percent fall a quarter ago, GfK said. However,
the experts are currently projecting the largest euro area economy
to recover somewhat in the second half of the year, the research
group added.
AUD vs CAD (FX:AUDCAD)
Gráfico Histórico de Câmbio
De Mar 2024 até Abr 2024
AUD vs CAD (FX:AUDCAD)
Gráfico Histórico de Câmbio
De Abr 2023 até Abr 2024