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German consumer climate predicted to increase in Sept. despite terrorism, Brexit

Xinhua, August 27, 2016 Adjust font size:

The German consumer climate is to rise with the predicted overall indicator at 10.2 points for September, following a value of 10.0 points in August, market research group GfK reported Friday.

According to GfK, income expectations and propensity to buy are seeing improvements, while economic expectations are suffering slight losses.

"The consumer climate has therefore proved to be completely resistant to the recent rise in general uncertainty caused by the Brexit decision and the noticeably increased fear of terror following the attacks in Bavaria," said Rolf Buerkl, an analyst for GfK.

The report also noted that domestic demand remains an important pillar of growth.

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, the executive body of the European Union. Endit