Study finds improvement in German consumer mood

Last Updated: Tue, Jan 29, 2013 18:30 hrs

A closely-watched survey shows German consumers are more optimistic, buoyed by the current calm in financial markets and expectations the economy will gradually revive over the course of the year.

The GfK institute reported Tuesday that its forward-looking indicator rose to 5.8 points for February, up from a revised 5.7 in January.

Analyst Carsten Brzeski says the indicator is "another small piece of evidence that domestic demand should be an important growth driver in 2013."

The report shows overall economic expectations still in negative territory, at minus 11.3 in January — but that was an improvement from December's minus 17.9.

Income expectations rose to 36 in January from 21.2 in December, while consumers' willingness to buy was up to 35.3 from 20.1.

The report is based on 2,000 consumer interviews.

More from Sify: