German consumer sentiment is set to improve in April after the easing of the hard lockdown and falling infection rates at the time of the survey, data from market research group GfK showed Thursday.
The forward-looking consumer sentiment index rose to -6.2 in April from revised -12.7 in March. The reading was forecast to climb to -11.9.
With infection rates rising again and the lockdown will be tightened again, it is questionable whether the improvement in consumer confidence will continue, Gfk observed.
“A sustained recovery in consumer confidence will continue to be a long time coming – which means difficult times ahead for retailers and manufacturers,” Rolf B?rkl, GfK consumer expert, said.
The income expectations indicator gained 15.8 points to 22.3 points in March. Income expectations significantly contributed to the sharp increase in sentiment.
The propensity to buy also increased in March. The corresponding index climbed 4.9 points to12.3 points.
The economic expectations index rose 9.7 points to 17.7 in March. With the first easing from the hard lockdown, consumers expect the German economy to recover further.
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