{"id":23953,"date":"2023-04-26T06:09:03","date_gmt":"2023-04-26T06:09:03","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/german-consumer-morale-picks\/"},"modified":"2023-04-26T06:13:54","modified_gmt":"2023-04-26T06:13:54","slug":"german-consumer-morale-picks","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/german-consumer-morale-picks\/","title":{"rendered":"German consumer morale picks up on income expectations – GfK"},"content":{"rendered":"

BERLIN (Reuters) – German consumer sentiment is set to pick up in May as moderating energy prices and expected wage increases help to dissipate households’ initial fears about a loss in purchasing power, a GfK institute survey showed on Wednesday. <\/p>\n

The institute’s consumer sentiment index improved to -25.7 heading into May from a slightly upwardly revised -29.3 in April, the seventh increase in a row and above expectations of analysts polled by Reuters of a reading of -27.9.<\/p>\n

Sentiment is back on track to recovery after a slowdown last month, but “the value still remains below the pre-pandemic level of about three years ago,” said GfK consumer expert Rolf Buerkl.<\/p>\n

“On a more positive note, income expectations are also up for the seventh consecutive month, returning to pre-Ukraine war levels for the first time,” added Buerkl.<\/p>\n

The income expectations subindex rose to -10.7 from -24.3 the month before, marking the highest value since February 2022, and comes as workers press for more pay and better working conditions to tackle higher costs of living through strikes.<\/p>\n

MAY 2023 APR 2023 MAY 2022 <\/p>\n

Consumer climate -25.7 -29.3 -26.6 <\/p>\n

Consumer climate components APR 2023 MAR 2023 APR 2022 <\/p>\n

– willingness to buy -13.1 -17.0 -10.6 <\/p>\n

– income expectations -10.7 -24.3 -31.3 <\/p>\n

– business cycle expectations 14.3 3.7 -16.4 <\/p>\n

NOTE – The survey period was from March 30 to April 11, 2023. <\/p>\n

The consumer climate indicator forecasts the development of real private consumption in the following month.<\/p>\n

An indicator reading above zero signals year-on-year growth in private consumption. A value below zero indicates a drop compared with the same period a year earlier.<\/p>\n

According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption.<\/p>\n

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?”<\/p>\n

The income expectations sub-index reflects expectations about the development of household finances in the coming 12 months.<\/p>\n

The additional business cycle expectations index reflects the assessment of those questioned of the general economic situation in the next 12 months.<\/p>\n

\n

(Reporting by Miranda Murray, Editing by Rachel More and Friederike Heine)<\/p>\n

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BERLIN (Reuters) – German consumer sentiment is set to pick up in May as moderating energy prices and expected wage increases help to dissipate households’ initial fears about a loss in purchasing power, a GfK institute survey showed on Wednesday. The institute’s consumer sentiment index improved to -25.7 heading into May from a slightly upwardly […]<\/p>\n","protected":false},"author":8,"featured_media":23954,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-23953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3P07S-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=23953"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23953\/revisions"}],"predecessor-version":[{"id":23955,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23953\/revisions\/23955"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/23954"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=23953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=23953"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=23953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}