Mediafax (Mediafax)
Macroeconomics  |  July 26, 2012 10:50:05

GfK Institute: The mood of German consumers in August with surprisingly improved (July 26, 2012)


NUREMBERG (MEDIAFAX) - German consumer confidence for August, according to GfK institute unexpectedly improved when the index was 5.9 points. Informed the agency on Thursday said.

Analysts who spoke to Reuters, while expected stagnation.

In July, the mood has improved surprisingly, when the index rose 5.8 points to 5.7 points from June.

Sub-index of the expected revenue in August fell to 36.3 points from July's 40.1 points.

"Stable employment situation with falling unemployment and the resulting increase in income improves planning security," said GfK institute in a statement.

But consumers were more pessimistic about the economic outlook since the corresponding sub-index fell to minus 5.6 points, while in July amounted to equal three points.

GfK indicator compiled from the results of a survey conducted on a sample of about 2000 people from all over Germany. Unlike other indicators, the GfK index assesses how it will develop confidence in the future.

German economy in the first quarter of this year rose QoQ according to revised figures by 0.5 percent and 1.7 percent year on year. In the last quarter of German gross domestic product (GDP) dropped by 0.2 percent quarter on quarter. Europe's largest economy and its performance in the first quarter of this year off the threat of recession.

Germany is Europe's largest economy and is dependent upon it, many Czech companies. Germany's gross domestic product last year rose by three percent and equal to slightly decelerated from 3.7 percent in 2010.

Tomáš Králíček, kralicek@mediafax.cz

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