Germany’s consumer confidence is set to rise further to the strongest level since October 2001, survey data from the market research group GfK showed Thursday.
The forward-looking consumer climate index rose to 10.1 points in May from 10 in April. This was its highest value since October 2001, when the indicator was at 11.0 points.
The survey indicated that the consumer climate is maintaining upward trend, albeit with sightly less momentum.
Following four consecutive increases, the economic expectations sub-index dropped 1.5 points to 35.3 in April.
In contrast to economic expectations, income expectations improved further in April. The corresponding index gained 2 points to 55.1. This was the highest score since reunification.
Willingness to buy declined for the first time in six months. The indicator dropped 4.7 points to 58.3. The indicator not exceeded the record value of 64.4 points reached in October 2006, just before the increase in VAT, the report showed.
The material has been provided by InstaForex Company – www.instaforex.com