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German consumer confidence higher

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(Globalpost/GlobalPost)

Consumer confidence in Germany is rising as economic expectations continue to point upwards in Europe's top economy, a new poll found on Wednesday.

"German consumers expect the economy to gather pace in the coming months, as is seen in the clear upwards trend in economic expectations," market research company GfK said in a statement.

"Their urge to spend appears to be unbroken," GfK said.

Overall, GfK's headline household confidence index was forecast to rise to 7.1 points in October from 7.0 points in September, it said.

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.

The outlook for Europe's top economy is currently positive.

On Tuesday, the widely watched Ifo business climate index rose for a fifth consecutive month to its highest level since April 2012.

And earlier this month, the ZEW investor confidence index hit its highest level in 3.5 years.

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http://www.globalpost.com/dispatch/news/afp/130925/german-consumer-confidence-higher