German consumer confidence is continuing to rise with households increasingly willing to spend in spite of the euro zone debt crisis, a new poll shows today.
GfK released its latest index of household confidence, with the barometer forecast to rise to 5.9 points in February from an upwardly revised 5.7 points in January, a statement said.
"Consumers are continuing to resist the growing recessionary tendencies in Europe which look likely to spare Germany," GfK said.
"For the second month in a row, economic expectations have risen and consumers' willingness to spend is increasing as a result. Given the favourable employment situation in Germany, income expectations are more or less stable at a very high level," it added.
The headline consumer confidence index is based on responses from around 2,000 households with regard to their expectations about pay and the economy as a whole in the coming months, as well as their willingness to spend money.
All three sub-indices - for income expectations, economic expectations and consumers' willingness to spend - increased, GfK noted.
Another leading indicator, the Ifo business climate index, rose for the third time in a row in January, calming recessionary fears in the euro zone's biggest economy, according to data released today.
