RTTNews - German consumer confidence showed upward trend with the improvement in economic and income expectations, the latest consumer climate survey from the market research firm GfK Group showed Tuesday. The overall consumer sentiment index rose to 2.9 points for July from a revised value of 2.6 in June. Economists were expecting a reading of 2.5 for July. But the index continue to stay at a low level.
The GfK said rising number of signs that the economic downturn may be coming to an end are raising the hopes of economic stabilization. Accordingly, economic expectations also improved moderately. Consumer sentiment is indicating positive development for July.
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