The German consumer confidence seems to have stabilized in March and even shows signs of revival after a month earlier led to decline in some of the indicators. The Nuremberg Research Institute, GfK, said today that its main consumer confidence index in March was 10.8 points, with expectations in April reaching 10.9 points. In February, the indicator was at 11 points.
The outlook for local growth this year remains very favorable. The GfK benchmark, measuring economic expectations, has also stabilized, with March at 45.9 points.
Last month, the index was 45.6 points versus 54.4 points in January. Both figures are much larger than the same period last year.
The German economy is currently growing steady. The Institute pointed out that the six months of political uncertainty after the September elections and the difficult negotiations to form a new government did not seem to have particularly affected consumer mood.
The other two indicators of the institute also reported an increase. The income expectations rose to 54.9 points from 53.8 points in February, while the propensity to make costs rose to 59.1 points, up from 56.3 points in the previous month.
The value above zero means that most respondents are optimistic. The results are based on polls of nearly 2000 consumers.