Latest data released by GfK - 23 September 2020

  • Prior -1.8; revised to -1.7

German consumer morale showed little signs of picking up in the latest GfK survey, and that sort of dampens hopes that consumption activity will be strong enough to carry the economic recovery as we move towards the latter stages of the year.

GfK notes that the consumer climate has stabilised despite the recent rise in virus cases but any further improvement is highly dependent on future virus developments and also labour market conditions moving forward.