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German consumer climate predicted to stabilize in Dec.

Xinhua, November 25, 2016 Adjust font size:

The German consumer climate is to stabilize at a good level at the end of the year, with the predicted overall indicator at 9.8 points for December from 9.7 points in November, market research group GfK reported on Thursday.

According to GfK, both economic expectations and propensity to buy rose. while income expectations fell only very marginally.

"Both this year and next year, private consumption will remain a crucial cornerstone of economic development in Germany," commented Rolf Buerkl, an analyst for GfK.

The report, took place primarily before the U.S. presidential election, noted that it remains to be seen whether the outcome of the election will have any lasting effects on German consumer mood.

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