German consumer confidence stabilises at year-end: survey

27th November 2014, Comments 0 comments

Consumer confidence in Germany appears to have stabilised at the end of the year, as shoppers prepare to open their purses for Christmas, a new poll found on Thursday.

Following the recent declines, "consumer sentiment stabilised further in November," market research company GfK said in a statement.

"The consumer climate is improving at the year-end."

Looking ahead to next month, GfK's headline household confidence index was forecast to rise to 8.7 points in December from 8.5 points in November.

The GfK reading is based on responses from about 2,000 households regarding their expectations about pay and the economy as a whole in the coming months, as well as their willingness to spend money.

Sentiment in Europe's top economy has stabilised recently, as concerns fade about the effect on investment of the crises in Ukraine and the Middle East.

Earlier this week, the widely-watched Ifo business climate index rose for the first time in seven months.

© 2014 AFP

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