BERLIN Nov 27 German consumer morale rose to a
six-year high in December, a survey showed on Wednesday,
supporting the view that strong consumption will make up for
weaker exports and help Europe's largest economy grow this year.
GfK market research group said its forward-looking consumer
sentiment indicator, based on a survey of around 2,000 people,
rose to 7.4 going into December, from a revised 7.1 in November.
DEC 13 NOV 13 DEC 12
Consumer climate 7.4 7.1 5.8
Consumer climate components NOV 13 OCT 13 NOV 12
- willingness to buy 45.7 44.4 29.4
- income expectations 45.2 32.7 17.8
- business cycle expectations 20.3 11.3 -14.6
NOTE - The consumer climate indicator forecasts the
development of real private consumption in the following month.
An indicator reading above zero signals year-on-year growth
in private consumption. A value below zero indicates a drop in
comparison with the same period a year ago.
According to GfK, a one-point change in the indicator
corresponds to a year-on-year change of 0.1 percent in private
The "willingness to buy" indicator represents the balance
between positive and negative responses to the question: "Do you
think now is a good time to buy major items?"
The income expectations sub-index reflects expectations
about the development of household finances in the coming 12
The additional business cycle expectations index reflects
the assessment of those questioned of the general economic
situation in the next 12 months.
(Reporting by Annika Breidthardt)