Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
German consumer confidence is set to dip in May as the recent tightening of social distancing restrictions and rising infection rates weighs on household sentiment, Rolf Buerkl, a senior analyst at Gfk said Wednesday.
Consumer sentiment is set to drop 2.7 points to -8.8 in May as both economic and income expectations fall sharply, a Gfk survey shows, although household propensity-to-buy ratios edged slightly higher, while the savings rate is significantly high.
Germany's research institutes lowered their consumption forecasts for 2021, as "real private consumer spending will hardly increase at all, rising by 0.2 percent compared to the previous year. As recently as last fall, researchers were still forecasting consumption growth of 4.9 percent for this year.", the report noted. "In return, the forecasts for 2022 are raised significantly, with real private consumption expected to increase by 8.5 percent."
Source: Gfk study
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.