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German GfK consumer confidence rises against expectations in October |
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FXstreet.com (Barcelona) – Consumer confidence has picked up slightly in October in Germany after four months of continuous decline, supported by falling oil and energy prices, nevertheless, the GfK does not anticipate any further growth in consumption in real terms this year.
Confidence for October has edged up to 1.8 points from revised 1.6 points in the previous month. Declining oil prices has made consumers less concerned about their purchasing power, and income expectations have gone up again, for second consecutive month.
The economic outlook indicator has risen 6 points to a level of -15.7 points; 56 points below the level recorded the same month last year. The income expectations index has risen 2.7 points, and remains 16 points below the level it was twelve months ago. The propensity to buy was the index to record the largest increase, 15.1 points up to -12.8 points, ten points below the level i n September last year.
Posted originally: 9/25/2008 6:18:00 AM
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