Investing.com – Germany's consumer climate improved more-than-expected in September, rising to its highest level in since October 2007, data showed on Tuesday.
In a report, the market research group Gfk said its index of Germany's consumer climate advanced to 4.9 in September, after rising to 4.3 in August, whose figure was revised up from 4.1.
Analysts had expected the index to remain unchanged at 4.3 in September.
Year-on-year the index advanced 53.5 points in September.
The report said that consumers expect the German economy to remain on track for recovery, while forecasters are now expecting the number of unemployed to fall below three million before the end of the year.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.37% to hit 1.3404.
In a report, the market research group Gfk said its index of Germany's consumer climate advanced to 4.9 in September, after rising to 4.3 in August, whose figure was revised up from 4.1.
Analysts had expected the index to remain unchanged at 4.3 in September.
Year-on-year the index advanced 53.5 points in September.
The report said that consumers expect the German economy to remain on track for recovery, while forecasters are now expecting the number of unemployed to fall below three million before the end of the year.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.37% to hit 1.3404.