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German consumer sentiment softens less heading into August

August sentiment rose to -29.6 from the prior -29.3, with income expectations still weaker and households more willing to save.

Reported · Written up by our desk · Major Pairs

Forexlive reports that German consumer sentiment remained gloomy going into August, but eased slightly as households showed some improvement in economic expectations.

The reading for August was -29.6, compared with -28.5 expected. The prior value was -29.2, revised to -29.3, while economic expectations improved to -6.3 from -8.7 previously.

Still, income expectations stayed depressed at -14.5, versus -12.2 previously, and households remained concerned about how their finances would be affected over the coming year.

Forexlive also noted that the willingness to save increased to 17.0 from 13.9 previously, reflecting the weight of ongoing inflation pressures on sentiment.

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