The good mood among German shoppers was unchanged heading into March, a GfK survey showed on Tuesday, suggesting that household spending will support overall economic growth in the first quarter of this year.
With the risk of trade conflicts and Britain’s looming exit from the European Union as a backdrop, recent data has pointed to a marked slowdown in Europe’s largest economy, which just skirted a recession – defined as two successive quarters of contraction – at the end of last year.
The Nuremberg-based GfK institute said its consumer sentiment indicator, based on a survey of around 2,000 Germans, was unchanged at 10.8 points, in line with the forecast.
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