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German Consumer Climate rose to 9.7 points

Thursday, Feb 26 2015
Following a value of 9.3 points in February 2015, German Consumer Climate indicator is forecasting 9.7 points for March. This is mostly in line with market forecasts. This is its highest value since October 2001, when the indicator was at 11.0 points. The consumer climate therefore remains on the upswing in Germany. 
 
Private consumer spending will once again play a key role in economic development this year. Consequently, in its recently published forecast, GfK predicted real growth in total private consumption in Germany of 1.5 percent for 2015, which is virtually on a par with overall GDP growth.
 
However, potential risks for the consumer economy must be taken into account. Besides the situation in eastern Ukraine, recent events in Greece cannot be overlooked. If developments in these areas cause uncertainty among German consumers, this will also have a severe impact on the consumer mood and therefore also consumption.
 
Data did not have any major impact on the markets. Euro is currently being traded around 1.1360 level. Pair is likely to find support around 1.13 handle, and resistance at 1.14 handle. Later today, German Unemployment Change and M3 Money Supply figures are scheduled for a release.
More in this category: « Private Capital Expenditure fell by 2.2% in Q4 M3 Money Supply increased by 4.1% »

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