German consumer sentiment to continue recovering in March: Survey

By Tuba Sahin

ANKARA (AA) - German consumer sentiment is expected to recover further in March, according to a GfK institute survey on Friday.

The GfK consumer climate indicator in Germany is forecast to hike by 3.3 points from February to an eight-month high of 30.5 in March.

The figure improved for the fifth month in a row thanks to decreasing energy prices and prospects that recession in Germany can be avoided.

"Despite ongoing crises, such as the war in Ukraine, a weakening global economy, and high inflation rates, consumer sentiment has once again increased noticeably. It thus remains firmly on the path to recovery, even if the level remains low," said Rolf Burkl, a GfK consumer expert.

"Consumer pessimism, which peaked last fall, is fading,” he added.

Both income expectations and economic conditions increased, to -27.3 and 6, respectively.