German consumer sentiment is set to drop in September, according to a survey conducted by the market research group GfK.
The forward-looking consumer confidence index fell to 8.6 from a revised score of 8.9 in August, data showed Wednesday. The index was expected to drop marginally to 8.9 from August’s initially estimated value of 9.
Both income expectations and willingness to buy dropped slightly in August, while economic expectations completely collapsed in light of the intensified state of international affairs, it said.
The economic expectations index plunged 35.5 points to 10.4 points in August. This was the sharpest fall since the survey began in 1980.
The income expectations index slid 4.6 points to 50.1 in August. It still remained at an extremely high level.