While economic expectation and the propensity to buy picked up again after a decline in the previous month, income expectations fell slightly. Because propensity to save also rose again in March, the consumer climate prognosis in April is 9.8 points, and thus slightly lower than the 10.0 points in March.

A rise in inflation in Germany and the resultant intensified concerns over income buying power have obviously hindered full recovery of consumer sentiment in March this year. While economic expectations and the propensity to buy largely compensated for losses from the previous month of February, income expectations were down for the second time in a row. Since the propensity to save increased once again, consumer climate declined overall in March.