German consumer confidence dips, surprising analysts

| December 21, 2010 | 0 Comments

Consumer confidence in Germany, which is the euro zone’s largest economy, has fallen after six months of sharp gains, according to the GfK research group.

GfK said its consumer climate indicator fell to 5.4 for January from 5.5 in December.

The fall from the forward looking indicator, which questioned around 2,000 people, surprised some analysts.

Germany was one of the first economies to emerge from recession in the second quarter of 2009 and it is driving the recovery of the euro zone.

However, the survey suggests that some consumers believe the strong economic growth will slow in the coming months.

Commenting on the survey, Carsten Brzeski at ING, said: “Despite today’s drop, German consumer confidence remains high and it looks as if German consumers are finally waking up.”

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