December 20, 2013 / 7:01 AM / 4 years ago

TABLE-German GfK Jan consumer indicator rises to 7.6

BERLIN, Dec 20 (Reuters) - German consumer morale hit its
highest level in nearly 6-1/2 years heading into January as
shoppers confident that Europe's largest economy is on an upward
path became more willing to splash their cash than at any time
since December 2006.
    The GfK market research group said on Friday its
forward-looking consumer sentiment indicator, based on a survey
of around 2,000 people, rose for a fourth consecutive month to
7.6 going into January from 7.4 the previous month, beating the
consensus forecast in a Reuters poll for it to hold steady.
    
                                 JAN 14    DEC 13    JAN 13
 Consumer climate                7.6       7.4       5.7
 Consumer climate components     DEC 13    NOV 13    DEC 12
 - willingness to buy            46.1      45.7      20.1
 - income expectations           39.5      45.2      21.2
 - business cycle expectations   23.3      20.3      -17.9
 
    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 
consumption. 
    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 
months. 
    The additional business cycle expectations index reflects 
the assessment of those questioned of the general economic 
situation in the next 12 months. 
    
    

 (Reporting by Michelle Martin)

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