German consumer confidence steady - GfK survey

Wednesday 26 March 2014 07.37
GfK's headline household confidence index was forecast to remain steady at 8.5 points
GfK's headline household confidence index was forecast to remain steady at 8.5 points

Consumer confidence in Germany appears to be steady after rising sharply in recent months, a new poll found today.

"Consumer sentiment remains at a very good level, but lacks a clear direction," market research company GfK said in a statement.

"While economic expectations and consumers' propensity to spend are still rising, income expectations have taken a hit," it added.

Overall, GfK's headline household confidence index was forecast to remain steady at 8.5 points in April. 

This reading is based on responses from about 2,000 households regarding their expectations about pay and the economy as a whole in the coming months, as well as their willingness to spend money.

Sentiment in Europe's top economy is currently positive, but appears to have taken a setback from uncertainty about the possible fallout from the crisis in Crimea.

Earlier this week, the Ifo business climate survey fell from its previous two and a half year high.