26.02.201902:21:00UTC+00German Consumer Confidence To Remain Stable In March: GfK

Germany's consumer confidence is set to hold steady in March, amid the sustained sharp decline in economic expectations and stable income expectations, survey data from the GfK revealed Tuesday.

The forward-looking consumer confidence indicator showed a reading of 10.8 for March, same as in February, the Nuremberg-based market research group said. The outcome was in line with economists' expectations.

"This means that the consumer climate in the first quarter of this year shows a stable trend at a good level and is so far bracing itself successfully against the tangible economic slowdown," the GfK said.

The economic expectations measure of the survey shed a further 6.5 points to reach 4.2, the lowest value since March 2016, when the score was 0.5 points. The indicator fell for a fifth month in a row.

The income expectations index edged up to 60 points in February from 59.9 points in January.

The propensity to buy index decreased four points to 53.6 in February. The propensity to save showed another tangible decline prompted by very low interest rates.

The latest GfK survey was conducted between February 1 to 15 and the results are based on around 2,000 consumer interviews per month conducted on behalf of the European Commission.