News Column

German consumer confidence hikes

January 29, 2014

! Berlin , Rabi'I 28, 1435, Jan 29, 2014 , SPA -- German consumer confidence is set to hit a more-than six-year high next month as low interest rates and hopes for higher wages help to boost household spending, dpa cited a survey released Wednesday as showing. Confidence among consumers in Europe's biggest economy will climb to a higher-than-forecast 8.2 points in February from a an upwardly January reading of 7.7 points, the Nuremberg-based GfK research group said in releasing its forward-looking indicator. Based on a survey of about 2,000 households, the February reading represents the indicator's highest level since August 2007 with low interest rates reducing the incentive to save. The index gauging wage expectations climbed to a 13-year high following a series of key pay settlements. --SPA 11:26 LOCAL TIME 08:26 GMT All Rights Reversed for Saudi Press Agency Provided by , an company

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Source: Saudi Press Agency (Saudi Arabia)

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