BERLIN (Reuters) – German consumer confidence on March jumped to a maximum of over 13 years thanks to the positive effects on the families of the drop in oil.
The GfK index, which is based on a survey of 2,000 people, rose to 9.7 from 9.3 points a month ago.
And ‘the highest reading since October 2001, above the Reuters consensus of 9.5 points.
“Consumers are becoming more optimistic,” says Rolf Buerkl Gfk. “The collapse of energy prices has increased the purchasing power of households and given way to other types of purchases.”
The survey says that consumers expect that the economy will continue to grow thanks to low inflat ion, which supports the euro weak exports and low energy costs and have confidence on the prospects of their salaries.
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