GfK: German consumers expect a moderate growth


GfK GermanAccording to GfK, German consumer climate indicator is forecasting 9.8 points for June compared with 9.7 points in May. While economic expectations and the propensity to buy have both increased, income expectations recorded a decline. People believe that their country economy will have a moderate grow trend over the next few months. This has resulted in a slight increase in economic expectations this month and the already very high propensity to buy has also climbed to an even greater level. Although the income expectations indicator is the only index to experience a loss, it still remains above the 50-point mark. Domestic growth is currently most responsible for boosting the economy. According to the German Federal Statistical Office, the dynamic economic development can be attributed to the increased amount of both private household and government spending at the beginning of the year.