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11/26/2019, 8:00 AM (Source: TeleTrader)
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GfK: German consumer confidence increases

Consumer confidence in Germany rose in November, GfK revealed in a report published on Tuesday. The market research institute predicted that the consumer climate indicator would increase to 9.7 points in December, which compares to November's figure of 9.6 points. According to the report, propensity to buy remained stable despite risks which include the global economic slowdown, trade wars and Brexit.

Rolf Buerkl, consumer expert at GfK, stated: "The exceptionally high levels of consumer confidence among German consumers have significantly contributed to preventing a recession in Germany in the third quarter. Private consumption has thereby perfectly fulfilled its role as an important pillar of the economy."

The economic expectations indicator saw a rise of 15.5 points to 1.7, as GfK stressed consumers may see fewer tensions in US-China trade relations and remain optimistic that the general election in the United Kingdom will solve the issue of Brexit.

Breaking the News / VP