Survey: German consumer confidence remains stable

AP News
Posted: Aug 28, 2012 2:35 AM
Survey: German consumer confidence remains stable

BERLIN (AP) — A survey has found that consumer confidence in Germany remains stable despite ever-increasing worries that the country's economy, Europe's biggest, will suffer from the debt crisis weighing on many other European countries.

The GfK research institute said Tuesday that its forward-looking consumer confidence indicator for September stands at 5.9 points — unchanged from the August reading.

The group says that consumers' economic expectations fell significantly for the third month in a row, but their income expectations and willingness to buy were only slightly lower. It says the overall indicator was propped up by a decline in consumers' inclination to save.

Germany's economy has been doing better than the 17-nation eurozone as a whole but there are increasing signs it isn't immune from the crisis, including falling business confidence.