AN consumer confidence has reached its highest level for 13 years, new data shows.
The forward-looking consumer confidence index compiled by market researchers GfK edged up to a score of 9.3 for February 2015, according to figures released yesterday. That is up from January’s score of nine.
GfK said “significant increases were recorded in both economic and income expectations as well as willingness buy.”
The firm attributes the optimism to falling energy prices which are freeing up disposable incomes. Earlier this weak saw another confidence index show an upturn in optimism, this time among German investors.
The Ifo business climate index rose to 106.7, marking its third consecutive rise but leaving it below 2011 levels that surpassed a 120 score. Increased confidence could bode well for the country’s economy. Germany’s economy grew by 1.2 per cent year-on-year in the three months to September.