German consumer confidence dips from high level
BERLIN: German consumer confidence has slipped slightly from high levels amid expectations that the country's strong economic growth will ease in the coming months, according to a survey published Tuesday.
The GfK research group said its forward-looking confidence indicator for January stood at 5.4 points - down from 5.5 in December.
A subindex measuring consumers' expectations for the next year slipped after six months of sharp gains.
That suggests consumers "believe the German economy is well on course for recovery even if they think the unusually strong momentum over recent months cannot be fully maintained," GfK said. Germans' income expectations and their propensity to buy also slipped, although GfK said they remained "at an extremely good level." All three indicators are far above the levels of a year ago. The German economy, Europe's biggest, has rebounded strongly this year as increasing exports into a recovering global economy have been accompanied by signs of improving domestic demand. -Reuters