German consumer outlook rises

German consumer confidence has risen for the ninth straight month, the widely regarded Gfk survey revealed yesterday. The forward-looking index rose from 5.8 this month to six points for March – its highest reading since October 2007, prior to the financial crisis. “While Germany’s recovery has been driven largely by exports and investment, consumer spending should make a bigger contribution to growth going forward,” said Ken Wattret of BNP Paribas.