GFK Survey: German Consumer Sentiment Improved Less Than Expected

A survey concluded that German consumer sentiment improved less than expected with the approach of June, as shopping activity remained cautious despite a decline in the rate of Covid-19 infections and an improvement in the growth outlook for Europe’s largest economy.

The GFK said its consumer sentiment index, based on a survey of nearly 2,000 Germans, increased to -7.0 from a revised reading of -8.6 the previous month.

The result fell short of Reuters’ forecast for further growth to -5.2.