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GfK: German consumer mood down in March

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GfK: German consumer mood down in March

GfK's consumer climate measure fell to 10.8 points in March from 11.0 in the previous month, though it is projected to tick up by 0.1 point in April.

"The considerable fall in economic expectations that took place in February is not currently continuing," GfK said.

The economic expectations indicator grew slightly by 0.3 point in March, stabilizing at 45.9 points at the end of the first quarter. Consumers see the German economy running soundly and at full throttle, the agency said.

The buying mood is also high. The propensity to buy increased by 2.8 points in March, recovering a good portion of the February fall, when it fell by 4.1 points. The relevant indicator is at 59.1 points.

Meanwhile, employment is expected to increase in the country by about half a million in 2018. GDP growth is anticipated at 2.6% in 2018 by the ifo Institute after 2.2% growth recorded in the previous year.

Germany's income expectation indicator gained 1.1 points to stand at 54.9 points.

GfK reaffirmed its forecast of real private consumer expenditure to increase by about 2% in 2018, assuming a trade war will not take place. "If protectionist trends in the U.S. result in a trade war, in which Germany would definitely be affected as an exporting nation, this would also noticeably influence the predicted consumer climate and the forecasted consumer growth would surely not be maintained."