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Upbeat German consumers

October 24, 2014

Not that geopolitical tensions in many regions of the world have become less virulent, but German consumers appear to be less fazed by them now, market researchers say. Household confidence levels are slightly up.

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Consumer confidence in Germany reversed its protracted fall, the Nuremberg-based GfK market research group reported Friday.

It said its benchmark barometer for what households thought about their economic prospects and how willing they were to spend money on goods and services was up slightly to 8.5 percent in November, a 0.1-percent improvement on the previous month and the first rise of the index since July.

"Both income expectations and the willingness to spend have risen," GfK expert Rolf Bürkl said in a statement. "Consumers appear to be less unnerved by the ongoing political tensions and the ensuing economic slowdown."

Ebola a growing threat

GfK's reading was based on responses from 2,000 German households regarding their assessment of economic developments and prospects both domestically and globally.

The rise in consumer confidence contradicted the mood among investors and executives in Europe's largest economy, with the closely watched Ifo business climate index falling to its lowest level in 17 months in September.

Bürkl warned that continuously slow progress in curbing the spread of Ebola might cause German consumers to think twice about retaining their optimism in the months ahead.

hg/ng (AFP, Reuters)