German Consumer Confidence Inches Higher

Berlin, June 25 (QNA) – German consumer confidence has inched higher after remaining at a stable level for several months, data from the monthly (GfK) surveys, a key economic indicator, showed Wednesday .

(GfK) said its forward-looking index for July had reached 8.9, up from a revised 8.6 the previous month, after consumers drew lessons from a cut in interest rates by the European Central Bank (ECB) this month.

“This fiscal-policy decision has had a strong negative impact on the propensity to save. The improvement in willingness to buy is also at least partially attributable to this factor,” (GfK) said in a release. (QNA)

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