{"id":118848,"date":"2021-07-28T06:28:04","date_gmt":"2021-07-28T06:28:04","guid":{"rendered":"https:\/\/fin2me.com\/?p=118848"},"modified":"2021-07-28T06:28:04","modified_gmt":"2021-07-28T06:28:04","slug":"german-consumer-morale-steady-heading-into-august-gfk","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/german-consumer-morale-steady-heading-into-august-gfk\/","title":{"rendered":"German consumer morale steady heading into August- GfK"},"content":{"rendered":"

BERLIN (Reuters) – German consumer sentiment held steady heading into August as shoppers grew more ready to spend, but took a less upbeat view on the economic outlook than a month earlier on worries about rising numbers of COVID-19 cases, a survey showed on Wednesday.<\/p>

FILE PHOTO: Shoppers walk down Hohe Strasse shopping district in Cologne, Germany, December 15, 2020. REUTERS\/Thilo Schmuelgen<\/figcaption>

The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, was unchanged at -0.3 points. The reading compared with a Reuters forecast for 1.0.<\/p>\n

After more than two months of steady decline, COVID-19 cases have been rising since early July, due mainly to the spread of the more infectious Delta variant.<\/p>\n

\u201cThis is currently preventing a further significant increase in consumer sentiment,\u201d GfK consumer expert Rolf Buerkl said in a statement, but he added that the domestic economy would make a positive contribution to growth in the second half of the year.<\/p>\n

Roughly 60% of Germany\u2019s 83 million people have had a first shot of a COVID-19 vaccine and about half are fully vaccinated.<\/p>\n

A separate survey published on Monday showed German business morale fell unexpectedly in July on continuing supply chain worries and amid rising coronavirus infections, posting its first decline since January.<\/p>\n

AUG 2021 JULY 2021 AUG 2020<\/h2>\n

Consumer climate -0.3 -0.3 -0.2<\/p>\n

Consumer climate components JULY 2021 JUNE 2021 JULY 2020<\/p>\n

– willingness to buy 14.8 13.4 42.5<\/p>\n

– income expectations 29.0 34.1 18.6<\/p>\n

– business cycle expectations 54.6 58.4 10.6<\/p>\n

NOTE – The survey period was from July 1 to 12, 2021.<\/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 ago.<\/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 \u201cwillingness to buy\u201d indicator represents the balance between positive and negative responses to the question: \u201cDo you think now is a good time to buy major items?\u201d<\/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

((FOR BACKGROUND AND HISTORICAL DATA, DOUBLE-CLICK ON))<\/h2>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BERLIN (Reuters) – German consumer sentiment held steady heading into August as shoppers grew more ready to spend, but took a less upbeat view on […]<\/p>\n","protected":false},"author":3,"featured_media":118847,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGerman consumer morale steady heading into August- GfK - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/german-consumer-morale-steady-heading-into-august-gfk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German consumer morale steady heading into August- GfK - Fin2me\" \/>\n<meta property=\"og:description\" content=\"BERLIN (Reuters) – German consumer sentiment held steady heading into August as shoppers grew more ready to spend, but took a less upbeat view on [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/german-consumer-morale-steady-heading-into-august-gfk\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T06:28:04+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/German-consumer-morale-steady-heading-into-August-GfK.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/german-consumer-morale-steady-heading-into-august-gfk\/\",\"url\":\"https:\/\/fin2me.com\/markets\/german-consumer-morale-steady-heading-into-august-gfk\/\",\"name\":\"German consumer morale steady heading into August- GfK - 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