2012.04.2703:20:00UTC+00German GfK Consumer Confidence To Fall In May

German consumer sentiment is set to deteriorate next month, a survey by market research group GfK showed Friday.

The forward-looking consumer confidence index dropped to 5.6 in May from a revised value of 5.8 in April. Economists were expecting a level of 5.9.

While the overall economic outlook was viewed more optimistically in April, the high level of income expectations dropped slightly, and willingness to buy saw significant losses.

The economic expectations index increased by 1.3 points to 8.5 in April. Meanwhile, income expectations dropped 1.3 to 33 points. After a slight decrease in March, the indicator lost 11 points to reach 27.6 points in April.