Germany GfK Consumer Confidence Eases

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German consumer confidence is likely to decline going into March, as worries over unemployment weigh on Europe's largest economy, market research group GfK said on Wednesday.

The forward-looking consumer sentiment indicator, based on a survey of about 2,000 Germans, fell to 3.2 in March from an upwardly revised 3.3 in February. This was better than consensus forecasts for a reading of 3.

All three sub-components in the survey, which refer to February, worsened over the month, GfK said.

The gauge of consumers' economic expectations slid to minus 5.6 in February from 1.5 in January, while the income expectations sub-index eased to 12 from 12.5. The sub-index measuring buying propensity of consumers fell to 24.2 from 25.4.

German consumer confidence is likely to decline going into March, as worries over unemployment weigh on Europe's largest economy, market research group GfK said on Wednesday. (Market News Provided by RTTNews)