The consumer confidence index for the German economy is forecast to reach -6.2 points in April, up from the revised -12.7 points in March, thanks to the easing of COVID-19 lockdown in the country and falling infection rates, according to a forecast by the Growth for Knowledge (GfK) market research institute published on Thursday
MOSCOW (Pakistan Point News / Sputnik - 25th March, 2021) The consumer confidence index for the German economy is forecast to reach -6.2 points in April, up from the revised -12.7 points in March, thanks to the easing of COVID-19 lockdown in the country and falling infection rates, according to a forecast by the Growth for Knowledge (GfK) market research institute published on Thursday.
"The easing of the hard lockdown, which began in early March, as well as falling infection rates at the time of the survey (March 4-15) boosted consumer confidence. Both economic and income expectations have increased, along with the propensity to buy, in some cases noticeably. As a result, GfK is forecasting a decrease of 6.2 points in consumer confidence for April 2021, up 6.5 points from March this year (revised from -12.7 points)," the research institute said in a press release.
The study also revealed that income expectations significantly contributed to the sharp rise in consumer confidence, with the indicator climbing by 15.8 points to 22.3 points.
"[In addition to that,] the economic outlook is also improving. After an increase of 9.7 points, the indicator currently stands at 17.7 points. A higher value was most last measured six months ago, in September 202[0]. At that time, the indicator stood at 24.1 points," GfK added.
The latest extension of the lockdown, which has been in effect since early November 2020, is set to expire on March 28. Earlier this month, the restrictions were eased in regions with COVID-19 incidence below 50 new cases per week per 100,000 people. In particular, cultural venues and beauty salons were allowed to reopen in these areas.
