German consumer sentiment unexpectedly dips in July, finds GfK
BERLIN - German consumer sentiment is set to fall slightly in July, ending a four-month streak of rises, as households left uncertain by higher prices and an economy dawdling toward recovery opt to hold onto their money, a survey showed on Wednesday.
Income and economic expectations both fell moderately, while the willingness to buy stagnated at a low level and the willingness to save, already at a high level, grew slightly. "This also means that the government must quickly and clearly communicate the burdens and reliefs people will face as a result of the upcoming budget discussions," Buerkl added.The consumer climate indicator forecasts the progress of real private consumption in the following month.
The"willingness to buy" indicator represents the balance between positive and negative responses to the question:"Do you think now is a good time to buy major items?"
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