1st LD Writethru: German consumer climate rises to highest level in 13 years

German consumer climate indicator has been forecast at 9.3 points for February - the highest level since November 2001 when the indicator was at 9.6 points - following a value of 9.0 points in January, market research group GfK reported Wednesday.

According to GfK, significant increases were recorded in both economic and income expectations as well as willingness to buy.

German consumers have been affected by the major collapse in energy prices over past few weeks. Reduced costs of fuel and heating oil are boosting disposable income, giving consumers greater freedom for other spending, according to GfK's monthly report.

"The consumer climate is maintaining its clear upward trend. The outlook for the consumer economy is therefore continuing to brighten," said Rolf Buerkl, an analyst for the Nuremberg-based research group, adding, "it can be assumed that the domestic economy in Germany will again play an essential part in the overall economic development."

However, Buerkl warned against underestimating the potential risks - including international crises - for economic development and, consequently, also for consumption.

The GfK consumer climate survey has been conducted since 1980; 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. Endit