Frankfurt (dpa) – Slowing growth in Germany has not dented consumer confidence in Europe’s largest economy, with those surveyed looking to the future with greater optimism than elsewhere in Europe, excepting Denmark.
In a study released on Monday, market researchers Nielsen found that German consumer confidence looking ahead over the next 12 months had moved to second spot from sixth last year.
For the past 14 years, Nielsen has surveyed consumers in 64 countries for its consumer confidence index based on expectations. The Czech Republic and the Netherlands came in behind the leaders.
“The Germans are optimistic about 2020. Whereas consumer confidence was muted to some extent over recent months, the trend is now on the up again,” Nielsen manager Jens Ohlig said.
Some 59 per cent of German consumers saw their financial position over the coming 12 months as good or very good, by comparison with 46 per cent across Europe as a whole.
The clouds hanging over the wider economy, after Germany narrowly missed slipping into recession in the third quarter, did have some impact.
Some 62 per cent of German respondents saw their job situation as good or very good over the next 12 months, well above the European average of 39 per cent.