German consumer confidence rises: indicator

28th June 2011, Comments 0 comments

The mood among German consumers is improving, the GfK index suggested Tuesday, as people shrug off the Greek debt crisis to focus instead on the rosy prospects for Europe's biggest economy.

The July reading for the indicator, based on a survey of around 2,000 consumers, rose to 5.7 points from a revised 5.6 points for June, the market research firm said.

"Good economic data, positive labour market developments and decent growth are again winning the upper hand against upsets like (Japanese nuclear plant) Fukushima, the situation in the Middle East and Greece," it said.

Last week the closely watched Ifo index, based on a survey of around 7,000 firms across several sectors, suggested that business confidence, too, is improving.

© 2011 AFP

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