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1st LD Writethru: German consumers' income expectations hit highest level since 1990: GfK

Xinhua, April 23, 2015 Adjust font size:

Income expectations of German consumers hit its highest level since reunification in 1990, consumer climate survey of market research group GfK showed on Thursday.

The indicator for income expectations climbed two points to 55.1 points, while economic expectations and willingness to buy declined slightly, according to GfK.

Following a 13-year-high value of 10.0 points in April, German consumer climate indicator has been forecasted at 10.1 points for May.

"The consumer climate has improved, but not as strongly as in recent months," said Rolf Buerkl, an analyst for the Nuremberg-based research group.

"This stable development confirms GfK's previous forecast that private consumption will be a key pillar of overall economic development this year," Buerkl noted.

However, Buerkl warned again there are still some factors putting this positive outlook at risk. Retailers may end up disappointed this summer due to uncertainty on Greece's future and conflicts in various regions, including Ukraine, the Middle East and most recently Yemen.

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