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German consumer sentiment consolidates upward trajectory -GfK.
German consumer sentiment is set to improve for a fourth consecutive month in February as energy prices fall, a GfK institute survey showed on Tuesday.
The institute said its consumer sentiment index rose to -33.9 heading into February from a revised reading of -37.6 in January, but was slightly below forecasts from analysts polled by Reuters of -33.0.
“Falling energy prices, such as for gasoline and heating oil, have ensured that consumer sentiment is less gloomy,” said GfK consumer expert Rolf Buerkl. Nevertheless, he warned that 2023 will remain difficult for the German economy.
