German consumer climate to continue to rise in FebruaryStaff Writer | January 27, 2017
German consumer climate is expected to rise for the third month in a row, with predicted overall reading at 10.2 points for February from 9.9 points in January, GfK reported.
German economy GfK reported:
"Consumer confidence is starting 2017 on an extremely positive note," commented Rolf Buerkl, an analyst for GfK, adding that good initial circumstances have been established for consumption in 2017.
Buerkl said that high employment, clearly growing income and low interest rates are the primary contributors to German consumer confidence.
However, there are still risks, including the insecurity regarding the future actions of the new U.S. Administration, elections in important European countries such as France and Germany, and the start of the Brexit negotiations.
The GfK consumer climate survey has been conducted since 1980. Its findings are based on around 2,000 consumer interviews conducted each month on behalf of the European Commission, the executive body of the European Union. ■