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Consumer confidence in Germany declined in September due to concerns about unemployment.
Jin10 Data, August 27 - Germany's Gfk Consumer Confidence Index for September has been slightly revised down from last month's -21.7 points to -23.6 points. Consumer confidence is expected to decline for the third consecutive time, as households' worries about potential unemployment and inflation uncertainty are growing, undermining consumer confidence. NIM consumer analyst Rolf Buerkl stated that income expectations have significantly dropped, reaching the lowest level since March, playing an important role in the overall decline. He said, "Concerns about unemployment are increasing, causing many consumers to remain cautious, especially when purchasing big-ticket items." The survey indicates that uncertainty about how inflation will develop is also affecting consumers, who are worried that geopolitical situations and U.S. government tariff policies may lead to rising energy prices.
NIM-0.56%
