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Germany's consumer confidence index for November deteriorated to 4 from 4.2 points in October, a monthly survey conducted by the GfK Group showed Monday. The consumer climate has recorded a decline for the first time since September 2008, the research group said. Economists were expecting the index to rise to 4.5 for November.
Among the sub-indices, income expectations and the propensity to buy recorded losses in October, while economic expectations improved again. The index measuring propensity to buy dropped around 10 points to 26.1 in October and the income expectations slipped 3.1 points to 12.9. Meanwhile, the economic outlook index rose more than 5 points to 8.7 in October.
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