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11.12 10:43:48

Consumer confidence hit by income concerns - Germany

German consumer confidence looks set to decline in December due to concerns about the economy and lower expectations about income levels, according to the latest statistics from GfK.

 

The GfK consumer sentiment indicator, based on a survey of 2,000 Germans, fell to 3.7 for December from 4.0 in November. The survey results contrast with a surprisingly large rise in business confidence in the Ifo research institute's latest survey.

 

However, they were consistent with other data released by the Federal Statistics Office showing that private consumption was one of the weakest components in the overall economy in the third quarter, after being one of the strongest components during the worst of this year's recession earlier in the year.

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