Berlin: Consumer morale in Germany is projected to worsen in February, according to data released on Wednesday. Market research company GfK has forecast minus 22.4 points for consumer sentiment in February, marking a decline of 1 point from January's downwardly revised figure of minus 21.4 points.

According to Anadolu Agency, Rolf Brkl, a consumer expert at NIM, commented on the situation by stating, "The Consumer Climate has suffered another setback and starts gloomy into the new year. The few hopes of a cautious recovery that emerged after the rise in the previous month were dashed." He noted that a sustainable recovery in the Consumer Climate is not anticipated in the near future, especially as the inflation rate has recently increased again.

Further insights reveal that the income expectations of consumers have dropped by 2.5 points in February, currently standing at minus 1.1 points. The propensity to buy has also decreased, losing 3 points and now standing at minus 8.4. Additionally, consumers' confidence in the economy has fallen by 1.9 points, reaching a current value of minus 1.6.