German consumer sentiment steadies after five-month drop
Friday, 26 March 2010
FRANKFURT, March 25 (AFP): Germany consumer sentiment has stabilised after a five-month slide, helped by government efforts to limit the damage from the global economic crisis on employment, the GfK research group said Thursday.
GfK said its consumer confidence index was steady at 3.2 points for April.
GfK acknowledged that consumer confidence might just be taking a breather from a downward trend that began with November's reading but noted that both economic and personal income expectations had improved among the roughly 2,000 people surveyed.
Although German unemployment edged higher to 8.7 per cent in the latest figures, the impact of the global economic slump has been partly offset by a government plan that subsidises shorter working hours.
On Wednesday, the German Ifo economic institute said business confidence soared to near a two-year high in March as Europe's biggest economy emerged from an especially cold and snowy winter.
GfK said its consumer confidence index was steady at 3.2 points for April.
GfK acknowledged that consumer confidence might just be taking a breather from a downward trend that began with November's reading but noted that both economic and personal income expectations had improved among the roughly 2,000 people surveyed.
Although German unemployment edged higher to 8.7 per cent in the latest figures, the impact of the global economic slump has been partly offset by a government plan that subsidises shorter working hours.
On Wednesday, the German Ifo economic institute said business confidence soared to near a two-year high in March as Europe's biggest economy emerged from an especially cold and snowy winter.