German consumers are upbeat

Germany’s relentless recovery received another boost yesterday, as consumer confidence figures showed yet a further increase. The household confidence index is expected to rise to 5.7 next month. The level for January was revised up to 5.5 from an initial estimate of 5.4, following six months of increases. “Even the first wave of German austerity measures could not stop optimism,” said ING’s Carsten Brzeski.