Germany's Gfk market research institute says consumer confidence edged to its highest level since 2006. Analyists say low unemployment and low interest rates are encouraging Germans to go shopping.
The German government has lowered its forecasts for growth this year and next due to an increasingly tight labor market and risks associated with Britain's exit from the European Union and global trade disputes.
Hundreds of thousands of new jobs in Germany are being done by workers from Eastern Europe, according to government figures. Employment figures in July were 700,000 higher than in the previous year.
Following two months of decline, confidence among German consumers is picking up again according to fresh figures from German research group GfK. Wage hikes across many industries are a key driver of spending.
Italy's Economy Minister has weighed into the row over Italy's 2019 budget, urging constructive conversation. The EU says Italy will break deficit rules and damage the bloc financially – claims which Rome denies.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version