Survey: German consumers increasingly positive about economy

BERLIN – A closely-watched survey shows German consumers are becoming increasingly positive as the economy picks up speed.

The forward-looking GfK consumer climate indicator released Wednesday rose to 8.2 points for February, up from a revised 7.7 points in January.

Consumers’ economic expectations rose for the fifth month to 35.3 points — some 46 points above the same time a year ago. Income expectations reached the highest value in 13 years of 46.2 points, while willingness to buy surpassed last month’s seven-year high, rising to 50 points.

Germany’s economy is expected to see growth accelerate in 2014 after only a modest increase in output in 2013 and GfK says “Germans consider the domestic economy to be clearly on the upturn at present.”

The GfK study is based on around 2,000 consumer interviews.