In Germany, consumer confidence set to hit 6-month high in February

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Consumer confidence in Germany is set to rebound for the fourth straight month in February, supported by better expectations for the economy and personal finances amid falling energy prices and lower fears of recession.

Research by the German institute Gfk points out that the consumer confidence index in the largest European economy will rise from -37.6 points in January to -33.9 points in February, reaching the highest level in six months.

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The February result, however, was below the forecast of analysts consulted by the The Wall Street Journal, which predicted the indicator to advance to -33 points. The January reading was revised slightly upwards from -37.8 points originally.

GfK relies on current month data to project consumer confidence in the following month. In October 2022, German consumer sentiment hit an all-time low of -42.8 points.

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Source: CNN Brasil

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