German consumer confidence stable – GfK

Posted on November 24, 2016

German consumer confidence was slightly stronger than expected in November, according to a key barometer produced by GfK.

The consumer confidence indicator rose to 9.8 after last month’s unexpected drop to 9.7, but was still weaker than the levels enjoyed over the summer.

Despite the slight increase in the main indicator, GfK said the study, based on interviews with around 2,000 consumers, showed overall assessments “appear to be extremely stable”.

GfK said its forecasts suggest real private consumer spending in Germany will increase by around 2 per cent this year, though it cautioned that it is too early too judge whether the results of the US election will have any lasting impact on confidence.

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