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German Consumer Confidence Leading Index Declined Significantly MoM in December

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[Germany December Consumer Confidence Leading Index Significantly Decreased MoM]According to a report released on the 25th by the German market research organization Gefkay, the German Consumer Confidence Leading Index in December was negative 1.6 points, down 2.6 points from the previous month. The report shows that the economic prospects, income expectations and purchasing propensity indicators that reflect German consumer confidence have all declined significantly from the previous month, with a decrease of 15.6 points, 10.4 points and 9.7 points respectively. The report also adjusted the leading index of German consumer confidence in November from 0.9 point to 1.0 point. (Xinhuanet)

According to a report released on the 25th by the German market research organization Gefkay, the leading index of German consumer confidence in December was negative 1.6 points, down 2.6 points from the previous month.

The report shows that the economic prospects, income expectations and purchasing propensity indicators that reflect German consumer confidence have all declined significantly from the previous month, with a decrease of 15.6 points, 10.4 points and 9.7 points respectively.

The report also adjusted the leading index of German consumer confidence in November from 0.9 point to 1.0 point.

Gefkay expert Rolf Birkler said that the new wave of COVID-19 and higher inflation are “squeezing” consumer sentiment from two aspects. “The outlook for the coming Christmas season is a bit bleak.”

Since 1980, GEFK has conducted monthly confidence index surveys on approximately 2,000 German consumers. The index is a leading indicator to predict the trend of the German economy and the trend of household consumption.

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(Article Source:Xinhuanet

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