FRANKFURT (AFP) – Consumer confidence in Germany has stopped falling, as households appear to be no longer fazed by concerns about the economic fallout from geopolitical crises, a new poll found on Friday.
Following the recent declines, “consumer sentiment rose again somewhat in October and the downward trend has come to an end,” market research company GfK said in a statement.
“Consumers appear to be less unnerved by the ongoing geopolitical tensions and the ensuing economic slowdown. Both income expectations and the willingness to spend have risen again. And the economic expectations are more or less unchanged.”
Looking ahead to next month, GfK’s headline household confidence index was forecast to edge up to 8.5 points in November from 8.4 points in October.
This reading is based on responses from about 2,000 households regarding their expectations about pay and the economy as a whole in the coming months, as well as their willingness to spend money.