BERLIN — A new survey finds that German consumer confidence is slipping amid unease about the potential impact of the eurozone debt crisis.
The GfK research group said Tuesday its forward-looking confidence indicator for August stands at 5.4 points. It is down from 5.5 in July, a figure that GfK revised down from its initial forecast of 5.7.
GfK registered drops in economic and income expectations compared with the previous month, and a slight decline in consumers’ propensity to buy.
The group points to the “lack of a discernible strategy” to resolve the debt crisis afflicting other countries in the 17-nation eurozone.
GfK says that although conditions for domestic demand in booming Germany “remain very positive, they are not fully compensating for this uncertainty.”
Source: www.washingtonpost.com
The GfK research group said Tuesday its forward-looking confidence indicator for August stands at 5.4 points. It is down from 5.5 in July, a figure that GfK revised down from its initial forecast of 5.7.
GfK registered drops in economic and income expectations compared with the previous month, and a slight decline in consumers’ propensity to buy.
The group points to the “lack of a discernible strategy” to resolve the debt crisis afflicting other countries in the 17-nation eurozone.
GfK says that although conditions for domestic demand in booming Germany “remain very positive, they are not fully compensating for this uncertainty.”
Source: www.washingtonpost.com
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