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MNI: GERMAN DATA: GfK Consumer Climate (May 2019)....>

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MNI: GERMAN DATA: GfK Consumer Climate (May 2019) Preview - 07:00BST
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 - Bloomberg Consensus: 10.3; MNI Median: 10.3 (Prev: 10.4)
 - After hitting a 9-month high in Feb, the Consumer Climate Index resumed
trending downwards... 
- ... and markets expect a further step lower in May
- The latest survey showed economic expectations picking up after having fallen
for five consecutive months
 - The income expectations component of the index has declined recently, but
remains at a strong level...
- ... reflecting still-healthy labour market conditions and muted inflation
- However, the propensity to buy sub-index is at a near-two-year-low, showing
that caution remains elevated
- While uncertainty is clearly weighing on consumer spending decisions...
- ... real wage gains, employment growth and policy support suggest household
spending will remain an important driver of economic growth this year

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