Prior -29.0; revised to -28.8
The reading is an improvement to the month before but it still points to a slow and arduous recovery path for German consumer sentiment. GfK notes that the recovery is “progressing slowly and very sluggishly”. Adding that “real income growth and a stable labour market are very good prerequisites for a rapid recovery, but consumers still lack planning security and optimism about the future”.
This article was written by Justin Low at www.forexlive.com.