GfK: consumer sentiment is on a 16 year peak in Germany

German consumers were in their best mood for almost 16 years heading into June, a survey showed on Wednesday, adding to expectations that private consumption will again drive growth in Europe’s largest economy this year.

The consumer sentiment indicator published by the Nuremberg-based GfK institute and based on a survey of around 2,000 Germans rose to 10.4 going into June, the highest reading since October 2001.

A Reuters poll had expected an unchanged reading of 10.2. (MTI)