german consumers to start new year in high spirits
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

in Europe's purring top economy

German consumers to start new year in high spirits

Arab Today, arab today

Arab Today, arab today German consumers to start new year in high spirits

People visit Christmas market at Berlin's Breitscheidplatz square.
Frankfurt am Main - Arab Today

German consumers' festive mood will continue into the new year, a closely-watched survey said Friday, as shoppers remain unfazed by a political impasse in Europe's purring top economy.

Market research firm GfK said its forward-looking poll of around 2,000 people climbed by 0.1 points to reach 10.8 for January, in line with analyst expectations.

"Consumers are ending 2017 in high spirits," GfK said in a statement, with strong confidence in the economy promising "excellent" prospects for 2018.

The survey found that Germans expected their income to rise in the near future, bouncing back from the more pessimistic outlook seen in previous months.

Their willingness to make large purchases meanwhile dipped slightly below December's level but remains "in great shape", according to GfK, thanks to record-high employment and low interest rates.

The pollster noted that respondents were especially upbeat about the future state of the German economy, with growth expectations hitting a three-and-a-half-year high.

"Consumers are convinced that the strong upswing will continue into the new year," GfK said.

The cheerful mood comes despite a political deadlock in Europe's powerhouse following an inconclusive September election.

Chancellor Angela Merkel is still trying to form a new government after efforts to forge a so-called "Jamaica" coalition with two smaller parties collapsed in November.

"Consumer sentiment seems unburdened by the failed 'Jamaica' talks," GfK said.

The German economy has been firing on all cylinders in recent months, powered by strong domestic and foreign demand.

The government recently upgraded its 2017 growth forecast from 1.5 to 2.0 percent, while the Bundesbank is predicting an expansion of 2.6 percent.

The GfK predicted that domestic consumption will continue to be a key growth driver, but said risks were lurking from abroad.

The troubled Brexit talks, nuclear tensions over North Korea and potential protectionist measures in the United States could threaten Europe's top economy, it noted.

A separate survey by the Ifo economic institute this week found that German business morale dipped slightly in December on the political uncertainty at home, while staying at an "excellent" level.

 

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german consumers to start new year in high spirits german consumers to start new year in high spirits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german consumers to start new year in high spirits german consumers to start new year in high spirits

 



GMT 06:41 2016 Sunday ,15 May

Leading goal scorers of French Ligue 1

GMT 20:35 2017 Wednesday ,29 March

OPEC Daily Basket Down to USD 48.25 pb

GMT 14:51 2017 Thursday ,27 April

Heba El Masry wants her dishes in every house

GMT 10:19 2017 Thursday ,07 December

Lafarge ex-CEO quizzed over financing jihadists in Syria

GMT 18:49 2017 Sunday ,17 September

DEWA hosts HYPE Innovation Managers Forum

GMT 23:38 2016 Sunday ,18 September

Nepali PM returns home after 4-day visit to India

GMT 08:18 2017 Saturday ,18 March

Crans Montana Forum Kicks Off in Dakhla

GMT 07:00 2015 Monday ,02 November

Chinese support on climate change 'essential'

GMT 04:56 2017 Monday ,10 April

China probes chief of top insurance regulator

GMT 13:58 2016 Monday ,11 July

To cause Yemen economy lasting damage

GMT 19:29 2017 Friday ,29 September

Brazil holds record oil field auctions
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday