German consumer climate for September dampens slightly: GfK

German consumer climate declines slightly and its overall indicator has forecast 9.9 points for September, following a value of 10.1 points in August, market research group GfK reported on Friday.

According to GfK, income expectations, economic expectations and the willingness to buy of German consumers have all suffered losses.

Both economic expectations and the willingness to buy fell for the third time in a row, while income expectations cannot sustain record high either, losing 5.1 points to reach 53.5 points.

In July, the indicator of income expectations came to 58.6 points, hitting its highest level since reunification in 1990.

"Despite the decline, it cannot be said that the economic motor will stutter or even stall," said Rolf Buerkl, an analyst for the Nuremberg-based research group.

Buerkl believed that there is a good chance that the consumer climate will stabilize again, since it can be assumed that conditions for a good consumer economy in Germany will remain favorable in the coming months, such as employment, income and inflation.

The GfK consumer climate survey has been conducted since 1980. Its findings are based on around 2,000 consumer interviews conducted each month on behalf of the European Commission, or the executive body of the European Union. Endit