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German Consumer Climate at a 13-year high

Wednesday, Jan 28 2015
German consumers appear to be considerably more optimistic at the start of the New Year. The consumer climate has improved further. Following a value of 9.0 points in January 2015, the overall indicator is forecasting 9.3 points for February. Analysts were forecasting incline to 9.2 points. Significant increases were recorded in both economic and income expectations as well as willingness to buy.
 
German consumers have evidently also been affected by the major collapse in energy prices over the past few weeks. Reduced costs of fuel and heating oil are boosting disposable income, giving consumers greater freedom for other spending or purchases. Accordingly, there were considerable increases in both income expectations and willingness to buy. In addition, consumers clearly regard the lower energy prices as a key economic stimulus. 
 
Following a weak period in autumn, they therefore consider the German economy to again be on an upward trend. This is reflected in the second consecutive increase in economic expectations. In the wake of propensity to save crashing to a new record low in January 2015, the consumer climate has risen quite markedly.
 
However, data did not have any major impact on the markets. Euro is currently being traded around 1.1350 area. Later today, in the US session, FOMC interest rate decision and the following statement are scheduled for a release.
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