Investing.com – Germany's consumer climate improved unexpectedly in January, industry data showed on Tuesday.
In a report, the market research group Gfk said its index of Germany's consumer climate advanced to 5.7 in January, after rising to 5.5 in December, whose figure was revised up from 5.4.
Analysts had expected the index to remain unchanged at 5.5 in January.
The report said that German consumers remain decidedly optimistic with regard to economic performance in the early part of the year.
The report added that consumers still expect to see highly positive development in terms of German economic power, although momentum is not expected to pick up further over the coming months.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD rising 0.08% to hit 1.3648.
Meanwhile, the outlook for European stock markets was mixed. The EURO STOXX 50 futures pointed to a gain of 0.05%, France’s CAC 40 futures added 0.02%, the FTSE 100 futures were down 0.13% and Germany's DAX futures indicated a drop of 0.03%.
In a report, the market research group Gfk said its index of Germany's consumer climate advanced to 5.7 in January, after rising to 5.5 in December, whose figure was revised up from 5.4.
Analysts had expected the index to remain unchanged at 5.5 in January.
The report said that German consumers remain decidedly optimistic with regard to economic performance in the early part of the year.
The report added that consumers still expect to see highly positive development in terms of German economic power, although momentum is not expected to pick up further over the coming months.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD rising 0.08% to hit 1.3648.
Meanwhile, the outlook for European stock markets was mixed. The EURO STOXX 50 futures pointed to a gain of 0.05%, France’s CAC 40 futures added 0.02%, the FTSE 100 futures were down 0.13% and Germany's DAX futures indicated a drop of 0.03%.