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German consumer climate predicted to continue upward trend in June

Xinhua, May 25, 2016 Adjust font size:

The German consumer climate is to continue its upward trend with the predicted overall indicator at 9.8 points for June, following a value of 9.7 points in May, market research group GfK reported Wednesday.

According to GfK, economic expectations and the propensity to buy have both increased in May, while income expectations have suffered losses.

"The mood of German consumers shows a mixed picture in May," said Rolf Buerkl, an analyst for the Nuremberg-based research group.

Buerkl added consumers still believed the German economy would continue to grow moderately over the next few months.

The report noted that private consumption would remain an important pillar of the German economy over the next few months, considering the consumer climate was still experiencing an upward trend, although it had dampened slightly.

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