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German consumer confidence for December deteriorated unexpectedly, a monthly survey from GfK Group showed Wednesday. The forward-looking consumer confidence index fell to 3.7 for December from 4 in the prior month. Economists were expecting the index to remain unchanged at 4.
The indicator measuring propensity to buy rose slightly by 0.2 points to 26.3 points in November. Meanwhile, income expectations fell 6.7 points to 6.2 points and economic expectations slipped around 8 points to 0.9 points. Compared with the same period the previous year, the economic climate is recording a marked increase of 31 points.
The GfK conducts its consumer climate MAXX survey each month on behalf of the EU Commission. The survey is based on nearly 2,000 consumer interviews.
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