FXstreet.com (Barcelona) - Consumer sentiment index rose to the level of 4.5 points in January from the revised 4.4 points posted in December, according to the latest information by Gfk Group.
The result is above market expectations which anticipated a decline to the level of 4.0 points. December's result was upwardly revised from the level of 4.3 points initially posted.
The report remarks that the propensity to buy indicator rose significantly and more than offset the previous month's losses. The report states: The strong Euro and its impact on German export as well as the turmoil in the international markets are putting pressure on the German economy. The group also added that: As a result, Germans are taking a more pessimistic view in terms of economic and income expectations.
The economic expectations index declined slightly 0.6 points reaching the 23.6 points in December from the 24.1 points posted previous month. The income expectations index fell to the level of -1.7 points from the 0 points published previous month.