German Consumer Confidence Set To Improve In August

German consumer confidence is set to improve in August, survey data from market research group GfK showed Thursday.

The forward-looking consumer sentiment index rose to -0.3 points from revised -9.4 in July. The expected reading was -5.0.

Gfk said German consumers are gradually putting the coronavirus shock of earlier this year behind them. A V-shaped trend is currently emerging for the consumer climate.

While economic expectations gained slightly, income expectations and the propensity to buy increased significantly for the third consecutive time.

The economic expectations index rose 2.1 points to 10.6 in July. At the same time, the income expectations indicator climbed to 18.6 in July from 6.6 in June.

The propensity to buy climbed 23.1 points to 42.5 in July.