German consumer confidence expectations fall in September
German consumer confidence is forecast to slip lower in September, according to consultancy GfK.
The research group's barometer for consumer sentiment is expected to dip to a reading of 8.6 next month. Economists had been expecting a reading of nine.
The figure for August has been revised lower to a reading of 8.9 versus the preliminary reading of nine.
A retreat was seen in the sub-indices for both income expectations and willingness-to-buy - although they remain robust and at high levels - while a measure of economic expectations collapsed "in light of the intensified state of international affairs", in Iraq, Israel and eastern Ukraine.
The latter sub-index fell by 35.5 points to 10.4, the largest drop in a single month since GfK began compiling the survey in 1980.
The gradually accelerating spiral of sanctions in Russia also took its toll on "the previously extremely optimistic economic outlook of Germans," GfK said.
The income expectations sub-index fell by 4.6 points to 50.1 and that for willingness-to-buy by 1.7 points to 49.3.
AB