Perhaps it should be no surprise, what with getting free money for their dodgy cars, but German consumer sentiment is holding up OK at the moment. It’s pretty important for the rest of Europe that it’s biggest economy shows some resilience:
The GfK market research group said its forward-looking consumer sentiment index, based on a survey of 2,000 Germans, was unchanged at 2.5 in May after being revised up from an originally reported 2.4 in April.The latest figure beat the mid-range forecast of a poll of analysts last week for a reading of 2.3 , but economists said consumer sentiment would soon weaken as unemployment rises.
“Looking ahead, we still expect private consumption to be the bright spot for the German economy and to cushion the collapse of German industry,” said Carsten Brzeski, an economist at ING Financial Markets.
Source: The Guardian
OK - so maybe their not THAT happy...
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