Geopolitics to hit German consumer sentiment in March - GfK

(Sharecast News) - Geopolitical concerns are expected to hit German consumer sentiment next month, according to a widely watched survey published on Wednesday. The consumer sentiment index, published by the GfK market research institute and the Nuremberg Institute for Market Decisions (NIM), fell to -24.7 points for March from a revised -24.2 in the previous month.

There was a sharp decline in consumers' willingness to buy to -9.3 points in February from -4.0 in January.

"Even though the economy appears to be recovering slightly, consumers remain skeptical," said Rolf Buerkl, head of consumer climate at NIM.

"Geopolitical tensions, but also challenges in social policy, are likely to keep uncertainty and thus also the willingness to save high," he added.

Reporting by Frank Prenesti for Sharecast.com