German consumer confidence is set to improve in June, survey results from the market research group GfK showed on Thursday.
The forward-looking consumer confidence index rose to -7.0 in June from revised -8.6 in May. Nonetheless, the reading was weaker than the economists’ forecast of -5.2.
Rolf Bürkl, GfK consumer expert, said “We are leaving the third wave behind us more and more, the incidences have been falling significantly for several weeks.”
“We are also making great strides in vaccination. As a result, openings and a departure from strict lockdown are possible,” Bürkl added.
After a plus of almost 34 points, the economic expectations indicator jumped to 41.1 points, the highest value in more than three years.
The income expectations indicator rose 10.2 points to 19.5 points in May. After three increases in a row, the propensity to buy indicator dropped 7.3 points to 10.0.