Latest data released by GfK - 27 January 2021
- Prior -7.3; revised to -7.5
German consumer morale dips for a fourth month in a row as tighter lockdown measures continue to weigh on sentiment going into February. This is the lowest reading since June and doesn't provide much confidence to start the new year. GfK notes that:
"Closing large parts of the retail sector has hit the propensity for consumers to buy just as hard as it hit during the first lockdown in spring last year. In other words, the recovery that many had hoped for this year will be postponed."
That's not quite a good look on the German and euro area economy to start Q1.
