BRUSSELS (dpa-AFX) - German consumer confidence is set to continue its downward trend in November on weaker income expectations, survey data published jointly by NIQ/GfK and the Nuremberg Institute for Market Decisions showed Tuesday.
The consumer climate indicator fell unexpectedly to -24.1 in November from revised -22.5 in October. The score was expected to improve to -22.0.
The decline in income expectations was the reason for the renewed decrease in consumer climate. There were slight increases in economic expectations and the willingness to buy.
The income expectations index declined sharply to 2.3 from 15.1 in September. At the same time, the economic expectations indicator rose to 0.8 from -1.4.
The willingness to buy index stood at -9.3, up from -11.6 a month ago.
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