Consumer confidence in Germany declined unexpectedly in October

Consumer confidence in Germany declined unexpectedly in October, as the index of market research company GfK decreased from 10 to 9.7 points. The The report puts an end to the series better data from the Federal Republic since the beginning of the week. The analysts expectations were for unchanged value of 10 points and markets remained disappointed. The index of consumer confidence in Germany falls for the first time since June.

The increased pessimism is not a consequence of disturbing data on employment and income, but rather a consequence of the external trade environment that is becoming more difficult

On other hand, economic expectations of the Gemran citizens improved for the first time after British referendum on leaving the European Union after the German government raised its forecast for economic growth. Namely the measure of expectations, which rose to 13 points is most closely linked to household consumption

Today’s data follow the good data on business confidence and business activity that exceeded expectations.

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