India, June 26 -- German consumer confidence is set to drop in July after rising for three straight months as rising willingness to save offset the positive impetus provided by improved income prospects.
The forward-looking consumer sentiment index fell unexpectedly to -20.3 in July from -20.0 in the previous month, a survey jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed Thursday. The score was seen at -19.1.
The savings indicator rose 3.9 points to 13.9 in June, which was the highest level in more than a year.
"A high willingness to save among consumers is also an expression of their continuing uncertainty and thus a lack of planning security," NIM Consumer Expert Rolf Burkl sa...