BERLIN, Feb 27 Reuters German consumer sentiment is expected to stabilize at a low level in March as households are confronted with great uncertainty due to constantly rising prices and a weaker outlook for Europe39;s largest economy, a survey showed on Tuesday.

The consumer sentiment index published jointly by GfK and the Nuremberg Institute for Market Decisions NIM rose slightly heading into March, to 29.0 from a revised 29.6 the month before, in line with a forecast by analysts polled by Reuters.

There is great uncertainty among consumers. In addition to the constantly rising prices, the weaker economic forecasts for the German economy this year are likely to be another important reason for this, said Rolf Buerkl, consumer expert at the NIM.

The German government recently slashed its economic growth outlook for this year to just 0.2 from 1.3 previously.

For the time being, Germany must continue to wait for an economic recovery, he said, which means a rapid recovery in consumer spending is not in sight.

Despite February income expectations increasing to their highest value since February 2022 before the war in Ukraine broke out consumers39; willingness to buy was still extremely low as households remain cautious about making major purchases.

MAR 2024

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MAR 2023

Consumer climate

29.0

29.6

30.6

Consumer climate components

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