German Consumer Confidence Highest In Eight Years

Photo: Brian Lawrence

Consumers in Germany are putting the country’s economic troubles behind them and looking to the new year with renewed optimism.

Consumer confidence in Europe’s largest economy improved this month, having stabilized in November after several months of decline, according to GfK.  In fact, German consumer sentiment hit its highest level in eight years as shoppers felt more upbeat about Europe’s largest economy going into 2015.

Market research group GfK said its forward-looking consumer sentiment indicator rose to 9.0 going into January from 8.7 in December, the highest reading since December 2006.

“Consumers apparently now assume that the period of economic weakness in Germany will pass and the domestic economy will return to growth in the coming months,” GfK said in a statement.

The reading is based on a survey of around 2,000 Germans, who give their expectations about pay and the economy in the coming months, as well as their willingness to spend money.

However, the research group warned that concerns about instability in Ukraine, Syria and Iraq and the Ebola outbreak continued to drag on the economy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s