German Consumer Confidence Stays Low

Germans hold out little hope for improved economy, and are reluctant to spend too much money, according to a consumer confidence study by market research firm Gfk. After a slight increase in February, the mood of consumers has cooled considerably. Going into April, the consumer confidence index remains at the previous-month level of 5.1. People have also become more skeptical of future income growth. In February, consumer optimism about income levels had risen to a one and half year high. For March, however, the indicator fell to minus 12, its lowest point since July 2003.