Survey shows German consumers losing confidence


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

BERLIN (AP) — A closely-watched survey shows German consumers are losing confidence amid growing concerns of an economic slump.

The GfK research group said Friday its forward-looking consumer climate index dropped for the fourth month in a row to 9.3 points in December, from 9.4 in November.

GfK says consumers' willingness to buy rose, but that was offset by drops in both their income and economic expectations, partially linked to the growing number of asylum seekers pouring into the country.

Germany is set to receive more than 1 million refugees and other migrants this year and some 40 percent of consumers surveyed told GfK they believed unemployment would soon rise, most of them saying the newcomers would hurt the labor market.

GfK's monthly survey is based on some 2,000 consumer interviews.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast