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Consumer sentiment in Germany developed positively on the whole in August, with consumers appearing to digest the shocking Brexit news very well. The overall index for consumer climate is forecasting 10.2 points for September, following 10.0 points in August. Income expectations and propensity to buy are seeing improvements, while economic expectations suffered slight losses.
The Brits' decision to leave the EU only seems to have caused temporary uncertainty among German consumers. This is signaled by the increases in both income expectations and propensity to buy. Economic expectations, on the other hand, once again suffered slight losses, following significant losses in the previous month.
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