Investing.com – Germany's consumer climate for November rose unexpectedly, industry data showed on Tuesday.
In a report, market research group Gfk said its index of Germany's consumer climate rose to 5.3 in November from 5.2 in October.
Analysts had expected the index to ease down to 5.1 in November.
While income expectations and willingness to buy once again improved slightly, the downward trend in economic expectations of recent months has continued.
Ongoing discussions relating to the government debt crisis and the threat of Greek insolvency, which will also put pressure on the banks, are still unsettling Germans.
Accordingly, the economic outlook for the coming months is rather negative and the indicator’s downward trend of the last two months continued.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.29% to trade at 1.3889.
Meanwhile, European stock markets were lower after the open. The EURO STOXX 50 slumped 0.6%, France’s CAC 40 fell 0.7%, the FTSE 100 dipped 0.25%, while Germany's DAX dropped 0.55%.
In a report, market research group Gfk said its index of Germany's consumer climate rose to 5.3 in November from 5.2 in October.
Analysts had expected the index to ease down to 5.1 in November.
While income expectations and willingness to buy once again improved slightly, the downward trend in economic expectations of recent months has continued.
Ongoing discussions relating to the government debt crisis and the threat of Greek insolvency, which will also put pressure on the banks, are still unsettling Germans.
Accordingly, the economic outlook for the coming months is rather negative and the indicator’s downward trend of the last two months continued.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.29% to trade at 1.3889.
Meanwhile, European stock markets were lower after the open. The EURO STOXX 50 slumped 0.6%, France’s CAC 40 fell 0.7%, the FTSE 100 dipped 0.25%, while Germany's DAX dropped 0.55%.