Germany: Low consumer confidence expected to dip further
German consumer confidence is expected to decrease in September due to persistently high inflation rates and a lack of clear upward or downward trend in the consumption climate.
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Posted 8/29/2023, 8:20:38 AM
dw.com
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Germany's business activity has seen a sharp decline, leading to concerns of a recession, as the country's Purchasing Managers' Index (PMI) dipped to its lowest level in over three years. This decline in activity is impacting the wider eurozone economy as well, with the region at risk of slipping into recession. This economic downturn is accompanied by a worrying uptick in inflation and slow growth, particularly in Germany.
German consumer sentiment is expected to decline in September due to decreasing income expectations and propensity to buy, hindering overall economic development and growth prospects in the country.
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