German consumer confidence is on its six-year peak

As the result of the favorable labor market situation and the impact of the sharp wage increases, the German consumer confidence has increaseded to its six-year peak.

According to datas of the GfK market research company, released on Wednesday, the confidence index increased to 6.8 points for July after the 6.5 points for June. Analysts expected the same index value.

“It seems that optimism is undiminished ” – Rolf Bürkl, GfK’s analyst said, who noted that the wage prospects have continued to improve due to the stable labor market conditions and favorable collective wage agreements. (MTI Eco, Világgazdaság Online)