German consumer confidence slips
A new survey shows German consumer confidence slipping — though only slightly — as the debt crisis in the eurozone and beyond feeds worries about the strength of the economy.
(AP) A new survey shows German consumer confidence slipping — though only slightly — as the debt crisis in the eurozone and beyond feeds worries about the strength of the economy.
The GfK research group said on Thursday its forward-looking confidence indicator for September stands at 5.2 points. That's down from the August figure of 5.3 — which GfK revised downward from its initial forecast of 5.4.
The group says Germans' willingness to buy remains "surprisingly robust" but a subindex measuring consumers' economic expectations has slumped to its lowest level since June 2010. GfK says that Germans' income expectations have declined moderately.
It says Germans "fear that the period of weakness at global level may be transmitted to the domestic economy if export prospects significantly collapse."
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