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German consumer confidence steady

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(Globalpost/GlobalPost)

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

"The first survey after the parliamentary elections paints a calm picture," market research company GfK said in a statement.

"A small uptick in economic expectations suggests that the German economy will recover in the coming months, albeit slowly.

"The propensity to buy indicator has almost matched the record high it reached last month and has slipped only fractionally. And income expectations also remain optimistic, despite marginal losses in October," the statement said.

Overall, GfK's headline household confidence index was forecast to slip to 7.0 percent in November from 7.1 points in October.

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 Wednesday, jobless data showed that unemployment in Germany is steady, close to its post-unification lows.

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http://www.globalpost.com/dispatch/news/afp/131031/german-consumer-confidence-steady