Wednesday, 26 June 2013

Economic Buzz: German Consumer Confidence Forecasts Higher For July

German consumers continued to be in an optimistic mood at the onset of  summer.Economic and income expectations increased further, but willingness to buy fellslightly at an extremely high level. Following a value of 6.5 points in June,the overall indicator is forecasting 6.8 points for July. Optimism appears to beunbroken. The income outlook of Germans has improved further from an alreadyhigh level on account of the stable employment situation and good collectivebargaining agreements, which have also benefited economic expectations . Incontrast, willingness to buy dropped slightly this month, but still remained atan extremely good level. The upward trend in the consumer climate is alsoenhanced by the continually falling propensity to save, which has reached arecord low.
Source by Commodity Insights

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