German consumer sentiment expected to show slight recovery in April

By Mucahithan Avcioglu

ISTANBUL (AA) - Consumer morale in Germany is projected to post a modest recovery in April, according to market research company GfK on Friday.

GfK has expected minus 24.5 points for consumer sentiment in April, up 0.1 point from March's upwardly revised figure of minus 21.6 points.

“Apparently, the elections and the prospect of a new government have lessened pessimism among a number of consumers," said Rolf Burkl, consumer expert at the Nuremberg Institute for Market Decisions (NIM).

"However, the renewed rise in the willingness to save is clouding the overall picture. It prevents a stronger improvement in the Consumer Climate.

"A fast formation of a government and the early adoption of a budget for this year would be an important factor for more planning security – not only for companies, but also for private households," he added.

The income expectations of consumers increased by 2.3 points in March and currently stand at minus 3.1 points.

The willingness to buy also posted a growth, by 2.9 points and stands at minus 8.2.

Consumers' confidence in the economy for the coming 12 months gained 5.7 points to a current value of 6.9.