German consumer confidence reached its highest level in six years, even though income expectations dropped, according to the GfK forecast for October published on Wednesday.
Specifically, the GfK consumer confidence for October rose from a revised 7 in September to 7.1. Consensus had been expecting a slight increase to 7 from the 6.9 first reading for September.
GfK said that the economic expectations are on a "clear upward trend" and noted that the "willingness to buy once again improved on the record value of the previous month".
The market research institute did note the decrease in income expectations for the second consecutive month, but clarified that the indicator continues to be at "an extremely high level"
Source: LiveCharts
Specifically, the GfK consumer confidence for October rose from a revised 7 in September to 7.1. Consensus had been expecting a slight increase to 7 from the 6.9 first reading for September.
GfK said that the economic expectations are on a "clear upward trend" and noted that the "willingness to buy once again improved on the record value of the previous month".
The market research institute did note the decrease in income expectations for the second consecutive month, but clarified that the indicator continues to be at "an extremely high level"
Source: LiveCharts
