Eurozone debt crisis weighs on Germany's consumer confidence – survey

21 December 2012 17:29  [Source: ICIS news]

LONDON (ICIS)--German consumer confidence fell in December and could decline further if the eurozone debt crisis remains unresolved, a market research group said on Friday.

Nuremberg-based GfK said that its consumer confidence indicator for Europe’s largest economy fell to 5.8 points in December, from 6.0 in November, and is projected to drop to 5.6 in January.

“German consumers continue to be unsettled. In December, it was above all the European debt crisis which caused the economic outlook to worsen slightly,” GfK said.

If efforts to resolve the debt crisis do not succeed, German consumption will be facing a difficult year in 2013, the group said.

Consumer demand, along with exports, is a pillar of Germany’s economy, it added.

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By: Stefan Baumgarten
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