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German consumer climate continues upward trend, hits 13-year high

Xinhua, March 27, 2015 Adjust font size:

The German consumer climate indicator has been forecast at 10.0 points for April, the highest level since October 2001 when the indicator was at 11.0 points, following a very high value of 9.7 points in March, market research group GfK said Thursday.

Increases were once again recorded in both economic and income expectations as well as willingness to buy.

The tug of war in Europe over the future of Greece is currently having no impact on German consumers' mood, according to GfK's monthly report.

"Consumers consider the German economy to be on clear upward trend based on a weak euro, which is boosting exports, and lower energy costs," said Rolf Buerkl, an analyst for the Nuremberg-based research group.

Meanwhile, companies also consider the German economy on an upward trend, which is reflected in the fifth successive increase of the Ifo index in March, according to Buerkl.

However, Buerkl warned there were still some risks despite the positive outlook. Although Germans are currently not affected, the current battle on the future of Greece could cause uncertainty in Germany in the coming months and the risks are difficult to assess, he said.

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. Endit