The US has accused Germans of consuming too little. But with the consumer confidence index at a six-year high, the statistics would seem to show a very different picture: Germans are spending, not just saving.
German consumers are heading into the autumn with a sunny summer disposition, expecting to spend more of their rising incomes as Europe's biggest economy continues powering on.
Germans opened their wallets as the Christmas season started in November, providing a boost to the country's retailers and raising hopes that private consumption continues to support growth in Europe’s biggest economy.
Consumers in Germany are still optimistic about economic developments at home, a closely-watched survey by the GfK market research group has shown. But inflation worries may soon change the picture.
German consumers are looking to the future with a great deal of confidence, market researchers have found. Their optimism is above all based on the prospect of higher wages in many industries and bigger pensions.
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