German consumer sentiment weakens in January - GfK

(Sharecast News) - German consumer sentiment weakened in January, according to a widely-read survey published on Wednesday. The consumer sentiment index, published by GfK and the Nuremberg Institute for Market Decisions (NIM), fell to -22.4 points from -21.4 points the month before and expectations of a reading of -20.0.

"The consumer climate has suffered another setback and starts gloomy into the new year," said NIM analyst Rolf Buerkl.

"A sustainable recovery in the consumer climate is currently not in sight, especially as the inflation rate has also risen again recently."

Reporting by Frank Prenesti for Sharecast.com

"The few hopes of a cautious recovery that emerged after the rise in the previous month were dashed. Since the middle of last year, we have seen a stagnating trend at best, while in the first half of 2024 the signs were still pointing to recovery."