(Finance) – Consumer confidence continues to stabilize in November. Both economic and income expectations have increased slightly. The propensity to buy, on the other hand, suffered minimal losses. The results reveal it GfK Consumer Sentiment Study for November 2022.
The GFK index, based on the survey conducted this month, shows a value of -40.2 points for November, compared to -41.9 in November. However, the reading is worse than analysts’ expectations which were for a rise in sentiment to -39.6 points.
Expectations on the economic situation are also improvingwith the indicator gaining 4.3 points to -17.9. Instead, the indicator on the propensity to purchase worsens which drops 1.1 points and settles at -18.6. That on income expectations rose by 6.2 points to -54.3.
“Consumer fears about soaring energy prices have eased somewhat, having a slightly positive impact on their confidence. On the one hand, some energy prices have recovered somewhat and, on the other hand, consumers seem to believe that the measures taken to limit energy prices can help curb inflationalthough this may turn out to be quite modest,” he explains Rolf Bürkl, GfK consumer expert. “Despite the slight improvements, however, the situation remains tense”.