Forexpros – Germany’s consumer climate indicator for March rose less-than-expected, industry data showed on Tuesday.
In a report, market research group Gfk said its index of Germany’s consumer climate rose by 0.1 points to 6.0 in March, disappointing expectations for a 0.2 point increase to 6.1.
The index rose to an unrevised 5.9 in February.
While economic expectations and willingness to buy dropped slightly, income expectations improved noticeably.
Consumers are confirming their view from previous months that the domestic economy will help stabilize economic developments in Germany.
Although willingness to buy fell slightly, it remains at a high level. In contrast, income expectations were significantly more optimistic in February than in the prior month, which is partly due to the stable labor market.
The slight decline in economic expectations demonstrates that the debt crisis at international level is still a risk for the German economy.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD rising 0.27% to trade at 1.3434.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.45%, France’s CAC 40 futures rose 0.4%, London’s FTSE 100 futures added 0.2%, while Germany’s DAX futures pointed to an increase of 0.35%.
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