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German consumer climate predicted to rise considerably in May

Xinhua, April 27, 2016 Adjust font size:

The German consumer climate is to rise with the predicted overall indicator at 9.7 points for May, following a value of 9.4 points in April, market research group GfK reported Wednesday.

According to GfK, growth is being observed for both economic and income expectations as well as propensity to buy.

"Consumers are clearly assuming that the German economy will regain some momentum in the coming months," said Rolf Buerkl, an analyst for the Nuremberg-based research group.

Buerkl added that underlying domestic conditions, such as rising employment, income growth and very moderate inflation, will primarily ensure that domestic demand is to continue to be the essential pillar of the German economy.

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