BERLIN (dpa-AFX) - German consumer sentiment is set to fall in March on weaker income expectations and willingness to buy, survey data jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed on Wednesday.
The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February. The reading was expected to improve to -21.6.
The income expectations index dropped 4.3 points to -5.4 in February. The last time such a lower value was measured in January 2024. Higher prices and uncertain economic and political situation damped income outlook.
The willingness to buy index dropped to -11.1 from -8.4 in January.
However, consumers were somewhat more positive about economic outlook. The index measuring general economic conditions for the next twelve months rose 2.8 points to 1.2.
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