The Consumer Confidence Index, which was measured as 9.8 points in July in Germany, decreased to 9.7 and was the lowest level since April 2017.
GfK, headquartered in Germany, announced the July 2019 results of the Consumer Confidence Index.
Accordingly, the Consumer Confidence Index, which was measured as 9.8 points in July, dropped to 0.1 points for August and fell to 9.7 points.
Expectation was for the index to decline to 9.7. Thus, after the loss of export momentum, the Consumer Confidence Index was recorded as the lowest level since April 2017 in Europe’s largest economy, where household spending and construction became the most important supporter of growth.
In his assessment of the issue, GfK researcher Rolf Buerkl stated that trade disputes with the US, ongoing Brexit debates and the global economic slowdown continue to increase the kork fear of recession,. . In addition, the news about the contraction in the economy increases the fear of losing jobs. Kul
While the labor market remains stable in Germany, wage increases on inflation and low borrowing costs support domestic consumption, the German government predicts that growth will remain at 0.5 percent this year.