Economic Buzz: German consumer climate stabilizing at low level

NIM Consumer Climate update by GfK stated that following last month?s setback, German Consumer Climate is currently stabilizing at a low level. The indicator, which reflects consumer expectations for November, declines slightly by 0.2 points to -30.8 points (previous month: -30.6 points). A year ago, the indicator stood at -22.5 points. Consumer Climate thus remains well below the previous year?s level. The trends in the individual indicators paint a mixed picture: While economic expectations are rising for the sixth consecutive month and the willingness to save is decreasing moderately, the willingness to buy continues to decline slightly. Income expectations are also dimming somewhat once again.

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