German confidence turns sunnier
By Juergen Baetz |
July 28, 2010, Wednesday
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Print Edition
Print Edition
GERMAN consumer confidence is up strongly, boosted by expectations that a quicker economic recovery will keep unemployment in check and by cheer over the football World Cup and sunny weather, a survey showed yesterday.
Germany's GfK institute said its forward-looking overall indicator for August rose to 3.9 points from 3.6 points in July, its highest level since November 2009.
"The good performance of Germany's football team in the World Cup, the warm summer weather and the upbeat news from the labor market have generated positive sentiment among Germans," GfK said.
The agency said the indicator for economic expectations made significant gains, rising by 31.3 points to 36.8 points - which is the highest figure on the index since the early days of the financial crisis in October 2007.
Germany's GfK institute said its forward-looking overall indicator for August rose to 3.9 points from 3.6 points in July, its highest level since November 2009.
"The good performance of Germany's football team in the World Cup, the warm summer weather and the upbeat news from the labor market have generated positive sentiment among Germans," GfK said.
The agency said the indicator for economic expectations made significant gains, rising by 31.3 points to 36.8 points - which is the highest figure on the index since the early days of the financial crisis in October 2007.
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