Investing.com – Germany's consumer climate indicator for February rose to a ten-month high, while January’s figure was revised higher, industry data showed on Thursday.
In a report, market research group Gfk said its index of Germany's consumer climate rose by 0.2 points to 5.9 in February, confounding expectations for a modest 0.1 point decline to 5.6.
January’s figure was revised up to 5.7 from a previously reported 5.6.
Economic expectations and willingness to buy both increased markedly and income expectations remained stable at a high level.
Against the backdrop of a pleasing labor market in Germany, income expectations were virtually unchanged in comparison with December and therefore remained at a very good level.
Despite rising economic risks and further escalation of the debt crisis, Germans are once again more optimistic about the future.
Following the release of the data, the euro was fractionally higher against the U.S. dollar, with EUR/USD easing up 0.05% to trade at 1.3114.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.7%, France’s CAC 40 futures rose 0.6%, London’s FTSE 100 futures added 0.35%, while Germany's DAX futures pointed to an increase of 0.5%.
In a report, market research group Gfk said its index of Germany's consumer climate rose by 0.2 points to 5.9 in February, confounding expectations for a modest 0.1 point decline to 5.6.
January’s figure was revised up to 5.7 from a previously reported 5.6.
Economic expectations and willingness to buy both increased markedly and income expectations remained stable at a high level.
Against the backdrop of a pleasing labor market in Germany, income expectations were virtually unchanged in comparison with December and therefore remained at a very good level.
Despite rising economic risks and further escalation of the debt crisis, Germans are once again more optimistic about the future.
Following the release of the data, the euro was fractionally higher against the U.S. dollar, with EUR/USD easing up 0.05% to trade at 1.3114.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.7%, France’s CAC 40 futures rose 0.6%, London’s FTSE 100 futures added 0.35%, while Germany's DAX futures pointed to an increase of 0.5%.