German consumer confidence hits 13-year high: survey

26th March 2015, Comments 0 comments

Consumer confidence in Germany is at its highest since late 2001, as the weaker euro and falling energy prices fuel optimism regarding the outlook for Europe's biggest economy, a poll found on Thursday.

"The tug of war in Europe over the future of Greece has left no impression whatsoever on German consumers," market research company GfK said in a statement.

"Consumers feel the economy is in a clear uptrend, buoyed by the weak euro, which boosts exports, and low energy costs," the statement said.

"Income expectations and a willingness to spend are rising in tandem with the brighter economic prospects."

Looking ahead to next month, GfK's headline household confidence index was forecast to rise to 10.0 points in April from 9.7 points in March.

"That is the highest level since October 2001. The consumer climate in Germany remains in a clear uptrend," the statement said.

Sentiment in Europe's top economy is on the rise, as a weaker euro and falling oil prices provides a boost to the country's exporters.

Earlier this week, the widely-watched Ifo business climate index rose for the fifth month in a row to its highest level in eight months.


© 2015 AFP

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