Survey: German consumer confidence slightly lower

AP News
Posted: Nov 26, 2012 7:55 AM

BERLIN (AP) — A new survey shows that German consumer confidence is declining slightly as Europe's financial crisis grinds on.

The GfK research institute said Monday its consumer climate indicator stands at 5.9 points for December — down from 6.1 in Novemberm which was revised down from an initial forecast of 6.3.

The survey shows Germans' income expectations are less bullish — but they still "expect that their income will soon rise." Their willingness to buy also dropped slightly but remains high.

The report is based on a survey of 2,000 interviews conducted each month for the European Commission, the executive arm of the 27-country European Union.

The German economy, Europe's biggest, is showing signs of weakening after two years of robust expansion. It's expected to grow by about 1 percent next year.