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German Consumer Confidence To Rise In December

(RTTNews) - German consumer confidence is set to rise moderately in December, survey results from the market research group GfK showed on Friday.

The forward-looking consumer confidence index rose to -40.2 in December from -41.9 in November. The reading was expected to improve to -39.6.

Consumers' long-standing fears of skyrocketing energy prices eased somewhat, which had a positive impact on consumer sentiment, Rolf BA 1/4 rkl, GfK consumer expert said. Despite the improvement, the consumer climate situation remains tense.

Both economic and income expectations increased moderately in November.

The economic expectations indicator climbed 4.3 points to -17.9 in November. Nonetheless, consumers expect that a recession is unavoidable in the near term. Gross domestic product is forecast to shrink around half a percent in the coming year.

Private consumption is unlikely to make a positive contribution to growth next year, the market research group said.
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