German consumer sentiment expected to weaken in February

ISTANBUL

Consumer morale in Germany is projected to worsen in February, according to data released on Wednesday.

Market research company GfK have expected minus 22.4 points for consumer sentiment in February, down 1 point from January's downwardly revised figure of minus 21.4 points.

"The Consumer Climate has suffered another setback and starts gloomy into the new year. The few hopes of a cautious recovery that emerged after the rise in the previous month were dashed," said Rolf Bürkl, consumer expert at NIM.

"A sustainable recovery in the Consumer Climate is currently not in sight, especially as the inflation rate has also risen again recently," he added.

The income expectations of consumers also fell 2.5 points in February and currently stand at minus 1.1 points.

The propensity to buy lost 3 points and stand at minus 8.4.

Consumers' confidence in economy fell 1.9 points to a current value of minus 1.6.