Consumer Sentiment in Germany Deteriorating as Numbers of Coronavirus Cases Increase

Thursday’s survey showed that consumer sentiment in Germany has deteriorated as November approaches, as a second wave of the new Corona virus outbreak in Europe’s largest economy caused Germans to have less appetite for spending.

The GFK Institute said its consumer sentiment index, which is based on a survey of nearly 2,000 Germans, fell to -3.1 as November approached a revised reading of -1.7 the previous month.

The reading is below Reuters’ expectations for a decrease to -2.8.

Rolf Bjorkel, an expert at GFK, said optimism among German consumers faded in October with the recent surge in coronavirus infections, fueling fears of another round of lockdown measures to slow the spread of the disease.