Consumer confidence in Germany is projected to see a decline in March and go from February's negative 22.6 to negative 24.7 points, falling below expectations, market research company GfK SE and the Nuremberg Institute for Market Decisions (NIM) said in their report released on Wednesday.
Meanwhile, the income expectations indicator dropped by 4.3 points to negative 5.4 points in February, hitting a 13-month low. On the other hand, the economic expectations indicator grew by 2.8 points month-on-month to 1.2 points.
"The current figures show no signs of a recovery in consumer sentiment in Germany. The Consumer Climate has been stagnating at a low level since the middle of last year. There is still a great deal of uncertainty among consumers and a lack of planning security," NIM's consumer expert Rolf Buerkl commented.
