Reply #33: German Consumer Confidence Up [View All]

[Ghost Dog]

http://www.manufacturing.net/article.aspx?id=143148&menuid=36

BERLIN (AP) - German consumer confidence is rising anew as a solid economic upswing and an improving job market encourage purchases in Europe's biggest economy, according to a survey published Monday.

The GfK research group said its forward-looking consumer climate indicator stands at 8.4 points for July, better than the 8 points forecast by analysts surveyed by Dow Jones Newswires. In June, consumer confidence stood at 7.4 points.

The monthly survey was marked by a significant increase in an index measuring Germans' propensity to buy, which rose by 13.2 points to break out of negative numbers to 9.1 points.

''The positive mood in respect of the economy and income is increasingly filtering through to the propensity to buy,'' GfK said in its report. That was the fourth consecutive rise in the index since a weak period at the beginning of the year, when Germany increased value-added tax to 19 percent from 16 percent.

''This economic high is attributable in part to psychological factors and the current general optimism ... as well as to economic factors supporting the buoyant mood,'' GfK said.

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