German consumer confidence steady despite debt crisis: GfK

FRANKFURT, Dec 20 (AFP): German consumer confidence is holding up in the face of the eurozone debt crisis as rising employment and incomes helped to offset looming recession fears, a poll found Tuesday. GfK released its latest index of household confidence, with the barometer forecast to remain steady at 5.6 points in January, unchanged from December, a statement said. "Despite increased economic risks and a further intensification of the debt crisis, Germans are looking to the future positively again," GfK said. "For the first time in five months, economic expectations have risen. And in line with this, consumers are expecting an increase in income next year." Nevertheless, in view of the debt crisis, households are showing reticence to spend.