HispanicBusiness

German consumer confidence is set to remain steady in September, despite the sharp fall in expectations for Europe's biggest economy stemming from the euro debt crisis, a survey released Tuesday showed.

The Nuremberg-based GfK research group said its forward-looking consumer confidence index came in at 5.9 point for next month - unchanged from August.

"German consumers' fears of a noticeable weakening of the economy continued to rise in August, a fact borne out by the third marked decline in economic expectations," the GfK said releasing the monthly report, which is based on a survey of about 2,000 households.

"To a growing degree, German consumers fear that the German economy will also fall victim to the recession in several eurozone countries," the group said.

Worries about the outlook for the economy also resulted in a more modest fall in households' income expectations and their readiness to spend.