German consumer confidence stable despite risks
BERLIN: A closely watched survey shows German consumer confidence remains stable despite concerns about the massive influx of migrants and recent terrorist attacks in Paris.
The GfK research group said Wednesday its forward-looking consumer climate index for February was unchanged at 9.4 points.
The group says consumers' willingness to buy and economic expectations rose slightly, while their income expectations dropped.
It says "despite a number of risks, including the threat of terrorist attacks and the refugee crisis, consumers still believe that the German economy will continue to grow modestly in the next few months."
It warned that if risks persist, the climate could change.
Meantime, GfK says optimism can largely be attributed to "the extremely strong labour market and rising employment."
GfK's monthly survey is based on some 2,000 consumer interviews.