German consumer confidence stable in latest GfK poll

0 Comments | AFP, February, 2008

FRANKFURT (AFP) — German consumers remain wary of spending as a result of price spikes and volatile stock market swings linked to US crises, a survey by the GfK institute showed Wednesday.

The latest GfK consumer index forecast, the main measure of German consumer sentiment, was unchanged at 4.5 points, the same level as in the preceding two months.

A GfK statement noted that for consumers: "Spring is not here yet."

Germans are concerned about the consequences of a slowdown of the global economy, slumping US activity and sharp swings on stock markets.

Inflation also remains high, at a provisional 2.7 percent in January, which discourages consumers further.

Economic expectations and the inclination to make large purchases, two of the...