Investing.com – German consumer confidence should improve at a faster pace than expected in May, the Gfk market research group said on Tuesday.
GfK's forward-looking measure of sentiment, based on a survey of 2,000 Germans, forecasted a value of 3.8 in May, following 3.4 in April, whose figure was revised up from 3.2.
In a report, the group said: "There are increasing signs of a recovery in the German economy, and consumers are becoming more aware of this, as their greater economic optimism shows."
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.18% to reach 1.3358.
GfK's forward-looking measure of sentiment, based on a survey of 2,000 Germans, forecasted a value of 3.8 in May, following 3.4 in April, whose figure was revised up from 3.2.
In a report, the group said: "There are increasing signs of a recovery in the German economy, and consumers are becoming more aware of this, as their greater economic optimism shows."
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.18% to reach 1.3358.